Chancellor of the Exchequer Philip Hammond may have made some concessions in his Spring Budget, but Making Tax Digital is still full steam ahead for many self-employed people and landlords and their agents. April 6th 2018 stands as the day when quarterly reporting for those types of business with incomes over the VAT threshold comes into force.
With only a year to go, practices up and down the country are now preparing for a revolution in tax administration. But when I talked to accountants at our recent roadshows, many were confused by the ever-changing picture presented by HMRC and both the mainstream and industry press. Feedback in our recent customer survey showed overwhelmingly that there’s just not enough clear information available on Making Tax Digital.
That got me thinking…
People just need to know the facts and how things will work, rather than speculation and sensationalist headlines. IRIS has worked closely with HMRC for many years, including most recently preparing our software for Making Tax Digital. This has put us in a great position to develop really relevant content for our Making Tax Digital education programme.
As a result, our new three-step curriculum provides a comprehensive training programme to help accountants get ready for Making Tax Digital.
- Step 1: Prepare for a new era
The 60-minute Introduction to Making Tax Digital webinar covers the key knowledge to understand HMRC’s vision for the future and the scale of change facing taxpayers in the new digital environment – all without leaving the office!
- Step 2: Turn transition into opportunity
From May onwards, we’ll be taking the show out on the road with our 3-hour Understanding Making Tax Digital seminars in venues across the country. They offer exclusive content and insight from our close working relationship with HMRC’s Making Tax Digital team.
Additionally, all delegates will receive takeaways and discounts, including a downloadable Making Tax Digital kitbag comprising:
- Client letter templates
- Making Tax Digital checklists
- Making Tax Digital client criteria to help you plan the transition
- Workflows for your Making Tax Digital processes
- Step 3: Start the digital revolution
Our 2-part live webinar – Set up Your Practice for Making Tax Digital – gives practical instruction on fine-tuning your IRIS software for Making Tax Digital. Each session lasts 45 minutes (90 minutes in total), with a choice of dates available.
Don’t forget: our Making Tax Digital hub is your first port of call to see all the details and to register for all the training outlined here. Then the fog surrounding Making Tax Digital really should begin to clear.
If you’re not sure which entry point is best for your team, please contact your Account Manager who will be happy to advise or call 0344 844 9644 for more information.