Changes are coming for anyone that pays Income Tax via Self-Assessment. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will be a requirement for anyone with a business and/or property income of more than £10,000 per year, from April 2024.
As of 1 April 2022, all VAT registered businesses are required to maintain and submit their company accounts using software which is compliant with the Making Tax Digital (MTD) Scheme. Since the role out of MTD in 2019, it was only businesses that exceeded the VAT...
Since HMRC introduced Making Tax Digital (MTD) in 2019, it has become increasingly important that businesses consider cloud accounting, or accounting software, as it is also commonly known. The arrival of MTD for VAT in April 2022 now means that VAT registered...
For anyone whose business has been voluntarily registered for VAT, you will soon need to change how you file those returns and you will also need to take on digital record keeping for your VAT accounts. These changes are coming because Making Tax Digital for VAT will...
Its been strangely quiet on the topic of Making Tax Digital (MTD) for some time now, and you might be forgiven for thinking that the drive to modernise the tax system had gone away. However, on 21 July 2020, the Treasury Department announced plans for the next stage...
