February Monthly Meeting
Date: Wednesday 20 February 2019
Location: Tyne and Wear Fire and Rescue, Barmston Mere Training Centre, Nissan Way, Sunderland SR5 3QY
We are delighted to invite you to our February monthly meeting which will focus on Making Tax Digital. This event will be held in partnership with our preferred supplier, Tait Walker and will feature two guest speakers from the company: Graham Dotchin, Head of Technology & Data Insight and Alastair Wilson, Tax Partner.
As we look ahead it’s clear 2019 will be a year with significant changes, challenges and opportunities, as we negotiate our exit from the EU, but this is not the only change on the horizon that will impact businesses.
For HMRC, 2019 will mark the start of its move towards a new digitised tax system, which will start with the way businesses must account for and communicate their VAT. Unfortunately, this is not something you can ignore or push to the side and your business will need to focus on becoming digitally compliant for VAT by April 2019 to avoid any penalties.
Making Tax Digital (MTD) key dates
The Government remains committed to Making Tax Digital (MTD) in April 2019. This means businesses will be impacted from their first VAT quarter, starting on or after the 1st April 2019. It is important to note that this is a software and record keeping issue, not a change to the way VAT is calculated.
What does this mean for your business?
Firstly, under the new legislation businesses need to ensure that their accounting records are “Digital” and, starting from April 2019, keep their VAT accounting records digitally. “Digital” excludes the use of manual books and records and most manually calculated spreadsheets.
Secondly, businesses will also be required to submit their VAT returns directly to HMRC in electronic format using specific software; it will no longer be possible to manually complete VAT returns via HMRC’s website portal.
Our guest speakers include:
Alastair Wilson, Tax Partner, Tait Walker
Alastair joined Tait Walker as a Partner in 2011 having worked at two of the ‘Big 4′ accountancy firms. He has over 20 years’ experience in advising some of the largest and most influential businesses in the North East of England.
He deals primarily with the taxation of intellectual property, including R&D, Patent Box and creative sector tax reliefs and has helped his clients to secure more than £35 million in corporate tax credits.
Alastair is a driving force behind the development of Tait Walker’s tax offering to its clients and has won and led tax support to large UK affiliates of multinational enterprises on many occasions.
Graham Dotchin, Head of Technology & Data Insight, Tait Walker
Graham is a qualified ACA accountant and data strategy expert. Prior to his role in Digital Solutions and Data Insights, Graham worked in Practice for ten years (4 years Audit and Assurance and 6 years Corporate Finance) and in Industry for 7 years, in roles of Commercial and Finance Director.
Graham has experienced first-hand the challenges and opportunities that businesses face, from both working in a professional environment and as part of a business leadership team.
Throughout his career, Graham has used data to shape strategy, worked with boards and management teams to drive growth and performance and work with businesses to better understand and communicate with their customers, suppliers, bankers, investors and potential acquirers.
Graham helps businesses understand which data to collect, how to create valuable insight and make more informed business decisions to help create strategy and communicate more effectively with key stakeholders. He is passionate about working with business owners, to combine their deep knowledge of their business with the right technology and relevant data to help them to improve performance and create a sustainable business strategy.
As a welcome from our host and new AMF member, Impeller, a social enterprise in collaboration with Tyne & Wear Fire and Rescue, will also be providing a ‘fire’ demonstration for anyone who is interested.
As usual our meeting is open to non-members who are interested in finding out more about the AMF and what we do to enhance and develop the manufacturing sector in the North East. However, priority will be given to members if the event is oversubscribed.
To book your place, click here.
Please note to secure your place on this live demonstration, please click on the ticket for FIRE DEMO in addition to your event ticket.