Advice for Landlords on ‘Making Tax Digital’
Landlords looking for tips on tax and how to prepare for incoming Making Tax Digital (MTD) rules are being invited to an online event on July 22 with specialist advisors from Carpenter Box.
MTD will have a significant impact on landlords with annual profits exceeding £10,000, with HMRC requiring individuals to use electronic accounting records and submit quarterly returns detailing income and expenditure from April 2023.
“MTD will require a significant change in both processing financial information and providing data to HMRC. Although the start date is some way off, landlords will need time to implement new accounting systems and get used to the new system well before the deadline.“
Said Karen Scott-Darling, a Tax Associate within the Private Client Services team at Carpenter Box, and one of the speakers at the event.
“We will also give some additional tax tips for landlords at the event and there will be plenty of opportunities for them to ask questions and clarify any burning issues they may have.”
To register for the event, go to: https://www.carpenterbox.com/event/making-tax-digital-for-landlords/