HMRC has announced the biggest change to tax compliance in the UK in a generation – the reform to the submission of all tax returns. The starting point for this will be VAT, and as of 1 April 2019 a large proportion of VAT registered businesses will be required to undertake their VAT reporting in a digital format, and file their VAT returns via MTD-compatible software.
With just a few months before MTD for VAT comes in, we will talk you through the likely practicalities for law firms – what needs to change and when. We will also discuss the common queries and concerns that we are hearing, as firms attempt to integrate a new digital tax system into their processes.
Aimed at: finance staff responsible for VAT accounting: legal cashiers, finance managers & practice managers (depending on the size of the firm).
Also solicitors but only if they are directly involved in the accounting processes.