HMRC’s latest schedule of webinars is now available for booking. Spaces are limited, so take a look now and save your place. HMRC has also made available a YouTube video which contains an overview of how to report COVID-19 support payments and grants on Company Tax Returns, what happens if you’ve claimed too much and the records that must be kept.  If you have any questions, please send them to email HMRC prior to the webinar, including the title of the webinar in the ‘Subject’ line of your email. HMRC will answer as many questions as possible on the day. Making Tax Digital for VAT: register here This webinar will provide some of the basics of Making Tax Digital for VAT. This includes what has changed, using software and keeping digital records, plus an introduction to penalty reform. From April 2022, these requirements apply to all VAT-registered businesses, including those with turnover below the £85,000 VAT registration threshold. How to register for VAT using the VAT1 form: register here This webinar will explain how to register for VAT using the VAT1 form and will also focus on the most common errors made when completing this form with tips provided on how to avoid mistakes.

The Institute continues to engage with HMRC on Making Tax Digital (“MTD”) and the Government’s Tax Administration Strategy. Over the summer, the Institute was represented at various forum meetings at which the many barriers to the successful introduction to MTD for income tax from April 2024 were discussed and highlighted including the lack of available software and the limited numbers of taxpayers participating in the trial. During a meeting at the end of August ahead of the announcement of the new Prime Minister and her ministerial team, the Institute and other Professional Bodies reiterated the need for HMRC to take stock now of the very challenging timetable for MTD for income tax and revise this, where required, to enable HMRC to  re-consult with stakeholders. Business, taxpayers and HMRC alike would benefit from this additional time and collaboration. HMRC should also focus on delivering current objectives well rather than over-stretching capacity. Even more pressing, MTD for VAT and the closure of the online VAT portal from 1 November 2022 was also highlighted as a major concern given this could impact on the Exchequer if businesses are not signed up to MTD for VAT on time and are unable to pay the VAT due online. The Professional Bodies are clear that further digitalisation of the UK tax system is only possible if it is delivered and implemented in such a way that it allows businesses and taxpayers sufficient time to prepare and participate in trials. The UK Government also needs to deliver certainty and stability for businesses during the current cost of living and energy crisis. The Professional Bodies stressed that any in-year tax changes being considered by the Government should take this into account.

HMRC’s latest schedule of webinars is now available for booking. Spaces are limited, so take a look now and save your place. HMRC has also made available a YouTube video which contains an overview of how to report COVID-19 support payments and grants on Company Tax Returns, what happens if you’ve claimed too much and the records that must be kept.  Making Tax Digital for VAT: register here This webinar will provide some of the basics of Making Tax Digital for VAT. This includes what has changed, using software and keeping digital records, plus an introduction to penalty reform. From April 2022, these requirements apply to all VAT-registered businesses, including those with turnover below the £85,000 VAT registration threshold. If you have any questions, please send them to email HMRC prior to the webinar, including the title of the webinar in the ‘Subject’ line of your email. HMRC will answer as many questions as possible on the day.