Swansea: Accountancy and business advisory firm creates 20 new job openings at Swansea office

The roles at the firm are needed following this month’s implementation of Making Tax Digital (MTD) for income tax by HMRC.

Landlords, sole traders and the self-employed with a gross income above £50,000 per year must comply with the MTD roll-out from this month.

From next April those with a gross income of £30,000 fall into scope and, from April 2028, those with a gross income of £20,000-plus.

Chris Jenkins, Azets’ Office managing partner, said:

“Our Swansea office is becoming an MTD hub for businesses and individuals as we support them with the HMRC compliance regime, which includes keeping digital records, using MTD-compatible software and submitting quarterly updates, as well as a final declaration.

“A recent online poll of business in the UK by Azets showed that most companies are not prepared for MTD, even though it is an operational reality from now for those with qualifying income of above £50,000. With the roll-out, and demand from clients, we have job vacancies for 20 people in relation to MTD.”

Azets. due to continued growth, invested in relocating to a larger Swansea office at Enterprise Park in spring last year, now home to 30 staff.

Richard Goddard, regional managing director at Azets, said:

“MTD is the most significant overhaul of the tax system since the introduction of self-assessment decades ago and it is clear from the Azets poll, and what we are hearing on the ground, that a lot of people, such as landlords and trades, will require professional support in completing compliant returns.

“In turn, this is creating job opportunities for talented people here in Swansea.”

#accountancy #Azets #jobs

‘Death of the traditional tax return’ as biggest shake-up in 30 years hits South Wales

From April 6, a radical new regime known as Making Tax Digital (MTD) will become mandatory for anyone with a gross income above £50,000 per year, marking the end of an era for paper-based filing.

Experts have described the overhaul as the most significant change to the UK tax system since the introduction of self-assessment nearly 30 years ago in 1997.

Regional accountancy firm Azets, which has offices in Swansea and Cardiff, is urging local business owners to act now to avoid falling foul of the new HMRC rules.

Under the new system, qualifying individuals will no longer be able to submit a single annual return; instead, they must keep digital records and provide updates to the taxman every single quarter.

Fraser Campbell, UK Head of ABAS at Azets, who is warning South Wales businesses to prepare for the “death of the traditional tax return.”

Fraser Campbell, UK Head of ABAS at Azets, has confirmed that the shift represents a major digital reporting obligation for hundreds of thousands of landlords and sole traders.

“MTD truly signifies the death of the traditional income tax return,” Mr Campbell has said, adding that the April deadline is now “fast approaching.”

The changes are set to affect an estimated 864,000 individuals nationwide from next month, with that number predicted to soar to nearly three million within just three years.

While the initial phase targets those earning over £50,000, the threshold is set to drop to £30,000 in April 2027 and further still to £20,000 by 2028.

HMRC has said the move will bring the tax system closer to “real-time,” providing businesses with more accurate financial information throughout the year.

However, the transition requires the use of specific MTD-compatible software, and experts are warning that those who haven’t yet modernised their processes could face a scramble to comply.

“Preparation, planning ahead and taking advice at the right time are key for compliance,” Mr Campbell has stated, urging those in South Wales to check their qualifying income immediately.

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#Azets #Business #Cardiff #Finance #HMRC #Landlords #MakingTaxDigital #money #MTD #SelfEmployed #Swansea #tax