‘Making Tax Digital’ workshops planned
From 1st April 2022 all non-exempt VAT registered businesses, irrespective of turnover, will have to use the Making Tax Digital system to submit VAT returns. Are you ready to comply with this new requirement?
HMRC’s Making Tax Digital plan is making fundamental changes to the way the tax system works. It aims to make it easier, more effective and more efficient for taxpayers to meet their tax obligations and get the paperwork in order.
Making digital VAT returns has been a requirement for businesses with an annual turnover of over £85, 000 since 2019. It is now being extended to all non-exempt VAT registered businesses. Rural Support understands that many of our farmers may find the process a challenge. So this Spring a series of Making Tax Digital workshops have been organised for farm families. They aim to help everyone get a better understanding of what they need to do in advance of their first VAT return after April 2022.
Accountancy firm PKF-FPM will be facilitating the workshops and will provide farmers with an overview and awareness of the HMRC Making Tax Digital system and how it will impact on their business.
The workshops will cover: Making Tax Digital for VAT, exemptions and other developments in the Making Tax Digital system, including submission of tax returns.
The workshops will also provide farmers with an overview and awareness of the issues surrounding the submission of records including options for keeping records and submitting them, choice of appropriate software and cost implications for farm businesses.
Rural Support’s Head of Farm Support Gillian Reid commented: “Looking after VAT returns is a key part of the farm business management and crucial to cashflow. These free seminars provide an excellent opportunity to find out what you need to do now so I would encourage you to register. We are still mindful of respecting Covid so pre-registration is essential so we can manage numbers attending.”
The workshops will be delivered as part of CAFRE’s Farm Family Key Skills Programme.
Dates and locations of upcoming workshops are:
24th March 2022 – Walsh’s Hotel, Maghera – 7pm
29th March 2022 – Belmont Hotel, Banbridge – 7pm
31st March 2022 – Webinar – 7pm
5th April 2022 – Webinar – 7pm
7th April 2022 – Canal Court Hotel, Newry – 7pm
11th April 2022 – Tullyglass Hotel, Ballymena – 7pm
13th April 2022 – Silverbirch Hotel, Omagh – 7pm
Due to COVID-19 restrictions spaces are limited so to register please visit Making Tax Digital - CAFRE
If you are not able to register in this way you can contact Rural Support on Freephone 0800 138 1678.
If you would like to find out more about the services and programmes available at Rural Support, go to the NI Farm Support hub at www.ruralsupport.org.uk or telephone the Support Line on Freephone 0800 138 1678 available Mon-Fri 9am-9pm.