Making Tax Digital. What It Really Means For You.

Описание: In this episode of Beyond the Balance Sheet, Katie Collin sits down with Diane Holden, Senior Partner Success Manager at Xero, to break down one of the biggest changes to income tax in decades. Making Tax Digital will transform how locums, clinicians, landlords and sole traders manage and report their income.

Diane explains what MTD really involves, who will be affected first, and how Xero can make the transition smoother and far less stressful.

In this episode, they explore:
• What Making Tax Digital is and why HMRC is changing the system
• Who falls into scope and how the new thresholds will be phased in
• Why your 2024 to 2025 tax return determines if you are captured
• How quarterly digital submissions will replace the annual tax return
• How Xero, bank feeds, Hubdoc and a separate business account keep digital records accurate
• How real time data improves tax planning, session decisions, pensioning and profitability

Guest:
Diane Holden
Senior Partner Success Manager at Xero. Diane supports firms and business owners through digital transformation and has worked closely with Ramsay Brown LLP to prepare healthcare clients for Making Tax Digital.

Resources and links:
Connect with Katie Collin   / katie-collin  
Connect with Ramsay Brown LLP https://www.linkedin.com/company/rams...
Connect with Diane Holden   / dianeholden  
Learn more about Xero https://www.xero.com/uk/