Tax Advice at Pembrokeshire Show
Posted on 5th August 2019 at 16:56
We are concerned that not enough Welsh business owners, particularly farmers, have signed up to do their VAT data collection and filing digitally. Alarming new statistics show only 25% of VAT registered financial firms in the UK have signed up for Making Tax Digital despite the deadline fast approaching.
Our financial experts will be on hand at next week’s Pembrokeshire Show to offer advice on how to comply rather than face potential future penalties.
William Hughes, a Partner in Ashmole & Co’s Haverfordwest and Tenby offices said, “We completely appreciate that farmers have a lot on their minds at the moment with the uncertainty facing them with Brexit. What we don’t want is for these businesses to also face the threat of penalties for not signing up for Making Tax Digital aswell. We will have a stand at Pembrokeshire Show and will be offering advice to those attending, not just farmers but companies represented at the event.
Making Tax Digital is a key part of the Government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. HMRC’s ambition is to become one of the most digitally advanced tax administrations in the world. Making Tax Digital is making fundamental changes to the way the tax system works – transforming tax administration so that it is more effective, efficient and easier for taxpayers to get their tax right. [More follows…]
William added, “The theory behind Making Tax Digital is broadly sound. A move to digital record keeping and submissions is logical and will ultimately be more efficient. But we believe it should have been allowed to grow organically, with systems created that are attractive enough that businesses choose to migrate to them rather than be forced to adopt them. We want to use Pembrokeshire Show to reassure businesses that we will help them with this transition.”
In the run up to the event Ashmole & Co is giving away a family trip to one of the county’s ultimate school holiday attractions – Folly Farm. Visit the firm’s Facebook page for more details.
If you are one of those VAT Registered firms that haven't yet signed up for Making Tax Digital please get in touch with your local Ashmole & Co office. Visit the website to find your local office across south and mid Wales.
Ashmole & Co Chartered and Certified Accountants have been established since 1897 and are one of the largest accountancy and auditing practices in Wales, operating from twelve offices throughout South and West Wales including Haverfordwest, Swansea and Carmarthen. The firm combines high quality audit, accounting, and taxation services with business consultancy, financial services and corporate planning.
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