Posted: Wed 17th Oct 2018
In conversation with Enterprise Nation founder Emma Jones, Damon Anderson from Xero and Jonathan Bareham from accountancy firm Raedan discuss the government initiative which aims to see the end of the tax return and transform the tax system by 2020.
Businesses, starting with those above the VAT Threshold, are required to submit tax information digitally in an effort to make systems and businesses more efficient and deal with the £9.4bn tax revenues lost each year due to errors.
An estimated 1.2m small businesses will be impacted by the initial rollout of Making Tax Digital (MTD) changes next April. Around 500,000 of them are currently using spreadsheets, paper or nothing to manage their tax!
If you're one of them or even if you're not tune in and start planning early!
Whether you're having trouble finding the numbers you need in spreadsheets, or looking for funding, having beautiful accounts is a must. That's why we've teamed up with Xero to offer you online accounting software to help you manage your cashflow and finances. If you're a start-up earning less than £50,000 per annum, sign up to Xero for Startups with an exclusive 50% off for 12 months!
Ths podcast was recorded and edited by Enterprise Nation member and audio production service, Podraffi.
To hear all previous episodes of the Small Business Sessions, go here.