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Making Tax Digital: Help for FSB members

Small businesses from across Norfolk have attended the Federation of Small Businesses’ (FSB) masterclass on Making Tax Digital (MTD) to gain expert advice on what they need to do to comply with the new rules, which enter into force in April 2019. 

With the deadline to the MTD scheme fast approaching, the FSB held the seminar in Barnham Broom to provide clarification on the new rules for filing under MTD for VAT. The seminar also helped in answering some of the questions and concerns of the small businesses attending the event.

The main presentations at the event were delivered by John Cunningham and Ryan Ebbage from accountancy Larking Gowen, with FSB Development Manager Andrew Mower also outlining FSB’s campaigning on the issue over the past couple of years. 

Under MTD, nearly every UK business that is VAT-registered and over the current VAT threshold of £85,000 will have to file their VAT returns digitally using functional compatible software.   

Andrew Mower said: “This masterclass provided local FSB members and other small businesses in the region the opportunity to find out what the new rules mean for their business and how they can ensure they meet the requirements. It allowed small business owners the chance for face-to-face advice and to have their own specific questions answered.

“We had a great turn out for the event and the attendees, both FSB members and non-members, left the masterclass with information to help guide them through this process.” 

The seminar is part of a full range of resources the FSB is putting together to help small firms understand and meet their requirements as part of the MTD Programme. 

As part of its commitment to support SMEs throughout the UK, FSB has unveiled a free-to-use Making Tax Digital hub available on its website. This will provide free guides to download and an overview of the new system.