Whether you're completing your first tax return or preparing for upcoming changes to tax reporting, this practical workshop will help you understand what's required and how to stay compliant.
Designed for sole traders and landlords, this session will guide you through the Self Assessment process, including who needs to submit a return, how to register, key deadlines, penalties and how to identify allowable expenses, reliefs and allowances.
The workshop will also explain Making Tax Digital for Income Tax and what it means for eligible sole traders and landlords with qualifying income over £50,000 in 2024/25. You'll learn about digital record-keeping requirements, compatible software, quarterly updates and the steps you should take now to prepare.
We'll also look at bookkeeping software, the opportunities and limitations of AI in accounting, and wider tax changes that may affect you.
By the end of the session, you'll understand your Self Assessment responsibilities, know whether Making Tax Digital applies to you, and leave with practical tools to improve your record-keeping and prepare for future reporting requirements.
Questions are welcome throughout the session, giving you the opportunity to discuss Self Assessment, Making Tax Digital and wider accounting concerns with financial management consultant and accountant, Colin McNally – CJM Lumina Ltd.
