AIM (Accounting Income Method) – a new option for calculating provisional tax – will be available from 1 April 2018 for small businesses using approved accounting software.
This free webinar is the second in a series offered by Inland Revenue to help the accounting industry to prepare for the introduction of AIM.
The first webinar explained how AIM will work, how it will benefit tax agents and small businesses, and the types of businesses best suited for AIM.
This second webinar will quickly revisit the basics of AIM before explaining the accounting adjustments that AIM-approved accounting software will consider when calculating provisional tax payments.
Future webinars will provide more detail about how you can help suitable clients to prepare for AIM, and what to expect when clients begin using AIM.
This webinar is suitable for people from small or large firms who work with small businesses with under $5 million turnover. It will provide detailed information about how AIM will work.
Attendees will gain a level of detailed knowledge of how AIM-approved accounting software will consider tax adjustments in determining provisional tax payments. This will help attendees to be confident that the AIM-approved software will be able to produce an accurate assessment of provisional tax payable in each accounting period (or of a refund due).
Once attendees understand the tax adjustments, this will help them to begin thinking about which of their clients might suit this new “pay-as-you-go” approach.
30 October 2017
Accountants, Tax Agents, Bookkeepers
Nick Wilkins, Business Transformation Account Manager, Inland Revenue
Penny Cooper, Service Design, Business Transformation, Inland Revenue
No CPD with this recording