The Small Business Sessions (series three, episode 11): The tax revolution you need to know about

The Small Business Sessions (series three, episode 11): The tax revolution you need to know about
Emma Jones
Emma JonesOfficial

Posted: Wed 17th Oct 2018

For this week's Small Business Sessions podcast powered by Xero we talk Making Tax Digital, the UK tax system change that will eventually impact on every business in the UK.

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!

For further information on Making Tax Digital for VAT visit Xero's Making Tax Digital hub or book a ticket to Xerocon, the definitive place to learn more about Xero's MTD solution.

You can listen to the podcast below and on platforms including iTunes and Stitcher. Please do subscribe and review.

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.

Emma Jones
Emma JonesOfficial
Following a degree in Law and Japanese, Emma joined international accounting firm Arthur Andersen, where she worked in London, Leeds and Manchester offices and set up the firm's Inward Investment practice that attracted overseas companies to locate in the UK. In 2000, bitten by the dot.com bug, Emma left the firm to start her first business, Techlocate. After 15 months, the company was successfully sold to Tenon plc. The experience of starting, growing and selling a business from a home base gave Emma the idea for Enterprise Nation which was launched in 2006 as the home business website. The company has since expanded to become a small business membership community of over 75,000 people who benefit from events and support: online and in person. Enterprise Nation also presents a campaigning voice to government and the media on behalf of its members. In 2021, Emma was awarded a CBE for services to small businesses and entrepreneurs.

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