The Small Business Sessions (S3E11): The tax revolution you need to know about
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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!
You can listen to the podcast below and on platforms including iTunes and Stitcher. Please do subscribe and review.