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AIM: A new option for provisional tax


AIM – a new option for calculating provisional tax – will be available from April 2018 for small businesses using approved accounting software. Inland Revenue is keen to help the accounting industry to prepare for the introduction of AIM.

Content Description:



AIM – a new option for calculating provisional tax – will be available from April 2018 for small businesses using approved accounting software. Inland Revenue is keen to help the accounting industry to prepare for the introduction of AIM. Penny Cooper, of Inland Revenue, will explain how AIM will work, how it will benefit tax agents and small businesses, and the types of businesses best suited for AIM.


Presenter Penny Cooper joined Inland Revenue two years ago to develop AIM, working with the accounting industry and software developers. Penny will go through what the AIM-capable accounting software will consider when calculating provisional tax payments.



Learning Outcomes:



Upon satisfactory completion of this webinar series you will be able to:

  • Describe how AIM will work;
  • Explain how it will benefit tax agents and small businesses;
  • Identify the types of businesses best suited for AIM;
  • Identify the tax adjustments that AIM-capable accounting software will consider when calculating provisional tax payments.


Benefits:



This webinar will give you an understanding of the intent and benefits of AIM, so you can begin thinking about how it might suit your clients and your own business model.

Penny Cooper began her working life as a tax consultant before moving into the public sector focusing on collaborative projects between the public and private sector. She joined Inland Revenue 2 years ago to find a solution to provisional tax pain. One of the things she has found most satisfying about developing AIM has been pulling together a great team of software developers and members of the accounting industry to be closely involved throughout the entire process of developing a new legislative initiative.

Penny’s focus is now on service design, making sure all the benefits that AIM promises can flow through to the customer and the end product is simple and pragmatic to use.


EVENT DETAILS


Topic: Tax

Sub-Topic: Business Tax

Format: Recorded Webinar

Proficiency Level: Intermediate, Advanced

CPD: 1 hours