Lunch and Learn: Prepare your new business for Making Tax Digital
Enterprise Nation
Posted: Wed 6th Apr 2022
In this Lunch and Learn, Jonathan Valentine, product manager at Intuit, and Pauline Green, head of product compliance and programmes at Intuit UK, tell you how to follow these new requirements in your business.
From April 2022, all VAT-registered businesses in the UK must use Making Tax Digital (MTD) software to keep digital records. From April 2024, all unincorporated businesses and landlords with total business or property income above £10,000 per year will need to comply with MTD for income tax Self Assessment.
However, many business owners are still unaware of the new MTD regulations and how they affect them.
Key takeaways from this session:
What Making Tax Digital (MTD) is, who will be affected and what it means for your new business
How to register for MTD on the HMRC website, what information you need to sign up, and how long it takes to register
How QuickBooks can help your business comply with MTD – from setting up VAT, adding transactions and submitting accurate VAT returns to HMRC with our VAT error checker
Get ahead of the deadlines and be clear on what you need to do to make sure you’re setting up your new business for success.
Get advice on starting and growing a business
Visit the StartUp UK hub for resources that give you the education and inspiration to get started on your entrepreneurial journey.
Enterprise Nation
Disclaimer: The views expressed in this content is solely that of the author and does not necessarily reflect the view of Grow London Local. Grow London Local accepts no liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication. We recommend that you obtain professional advice before acting or refraining from action on any of the contents of the content.
Grow London Local
Create an account today and get a personalised Business Success Check in under five minutes.
Visit Grow London Local