Making tax digital

This month, Business Support Specialist Heidi Green tells us about new filing changes for VAT registered businesses

There is a major change coming for all businesses and landlords or indeed anyone who submits a self-assessment tax return.

From 1st April 2019 all VAT registered businesses who have a turnover of the current VAT registration threshold (£85,000) will need software which directly submits account information to the HMRC on a quarterly basis.

Currently businesses who maintain manual records will need to make significant changes due to the need to use software which is compatible with the HMRC. If your business does not have a turnover of £85,000 or more then you have until April 2020 to get ready for the change.

There is an event at Scarthingwell Golf Club near Tadcaster on the 31 October to discuss “All Things Digital”.

For further help and advice on business growth and funding opportunities contact Heidi Green, Senior Business Advisor for Selby District Council via email at hgreen@selby.gov.uk or telephone 01757 292332.