A NORTHWICH accountancy firm is offering free help for those needing to meet HMRC’s new tax system.
Bennett Brooks is providing monthly drop-in sessions for individuals and landlords affected by the Making Tax Digital (MTD) for Income Tax system, which requires quarterly digital reporting.
The first deadline is August 7, and HMRC expects more than 850,000 taxpayers to be part of this initial wave, based on a qualifying income of £50,000 or more for the 2024/25 tax year.
Bennett Brooks’ services aim to assist those who have only just realised they need to comply, those who are not confident with digital systems, and those needing help to get set up.
The system, which went live on April 6, has seen about 250,000 sign-ups so far, mainly from accountants and tax agents, rather than self-employed individuals or landlords.
The firm is encouraging people to act quickly to ensure they understand what to submit and how to do it before the deadline.
Initially, the MTD system was rolled out for VAT, and over the past year, focus has shifted to the new quarterly reporting requirements for income tax.
HMRC has been promoting the regime on TV, radio, and across various media to increase awareness.
Bennett Brooks’ next free drop-in session is on Tuesday, June 9, at its head office on Winnington Avenue.
These sessions are designed to assist with any questions or queries about Making Tax Digital or any other accounting or tax issues.
Individuals are encouraged to attend these sessions for guidance on whether they are affected, how to start, or to confirm they are on the right track.
Further information can be found at bennettbrooks.co.uk.
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