Are you familiar with the government’s “Making Tax Digital” plans?

Robert Bolwell, senior partner at Dutton Gregory, will focus on the regulatory change and look to answer agents’ most pressing questions during a free webinar tomorrow at 10am.

The webinar, hosted by Goodlord, will cover how agents can avoid making errors in tax reporting and how they and their landlords can prepare for the changes.

Making Tax Digital aims to help businesses and individuals in the UK keep digital records and use software to meet with their HMRC obligations, across VAT, income, and corporation tax. The government hopes the switch to online will reduce tax errors that led to £32bn of missing tax payments in 2020-21.

The changes include new rules that mean, as of the 1 November, VAT-registered businesses are now only able to use MTD compatible software for their VAT returns. And further updates to how income tax are processed are on track to be brought in during 2024.

With the new VAT rules now in force, any agents who weren’t prepared for the change must act quickly to avoid default surcharges or penalties for late submission.

Robert Bolwell will be joined by Goodlord CEO, William Reeve, to discuss these changes and outline what agents need to do right now and other changes they need to start preparing for.

Bolwell said: “The Making Tax Digital plans are ambitious and broad, meaning there’s a lot for agents and landlords to get their heads around. With the new VAT regulations already in force and additional changes coming down the track, it’s vital to be informed and get across the details. I hope this webinar will help agents understand the impact these changes might have, how to engage with the relevant software, and what 2024 will bring.”

Reeve added: “Agents are facing a big shift with these regulatory updates. We’re therefore looking forward to hosting Robert for this free webinar and enabling agents to tap into his huge depth of knowledge and expertise as they get to grips with the new tax landscape.”

Participants can register for the webinar here.