S3 E11: The tax revolution you need to know about

The Small Business Sessions podcast from Enterprise Nation and powered by Xero is back for another inspiring episode. Every week Enterprise Nation founder Emma Jones speaks to entrepreneurs and experts about starting and growing a successful business. This week, Damon Anderson from Xero and Jonathan Bareham from accountancy firm Raedan discuss the government initiative which aims to see the end of the tax return and transform the tax system by 2020. Businesses, starting with those above the VAT Threshold, are required to submit tax information digitally in an effort to make systems and businesses more efficient and deal with the £9.4bn tax revenues lost each year due to errors. An estimated 1.2m small businesses will be impacted by the initial rollout of Making Tax Digital changes next April. Around 500,000 of them are currently using spreadsheets, paper or nothing to manage their tax! If you're one of them or even if you're not tune in and start planning early! To find out more about the Small Business Sessions, go to www.enterprisenation.com/podcast This podcast was recorded and edited by audio and podcast production service, Podraffi.