UHY Ross Brooke Chartered Accountants
If you are VAT registered and you’ve already registered for MTD for VAT, then well done, you can ignore the rest of this blog. If you haven’t, you’d better read on. What’s MTD for VAT all about? MTD stands for Making Tax Digital, and it involves keeping your records in
Making Tax Digital for Income Tax applying to the self-employed and landlords with gross incomes over £10,000 was originally set to apply from April 2023. However, HMRC has this week announced that MTD for ITSA will now be delayed until April 2024. A welcome stay of execution? For some, yes,
Updated 27 Sept 2021 Making Tax Digital for VAT has been in place since 2019 and was to be extended further from 1 April 2022 to include those with taxable incomes below the VAT registration threshold who have voluntarily registered. The next stage along HMRC’s digital roadmap is Making Tax
We are delighted to announce that we have successfully submitted our first VAT return under the new Making tax Digital for VAT service #MTDfB. This makes us one of the first firms in the country to do so and ensures that the remainder of our clients can be confident that
In under 6 months the Government’s first phase of digital taxation for businesses “ Making Tax Digital for VAT ” goes live, yet there still appears to be very little knowledge of what the rules are, who they apply to or when they start. The new rules will apply for
If you are in business you may not be aware, but from 2019 many businesses, the self-employed and landlords will need to use specialist software or apps to record and categorise receipts and expenses and to update HMRC quarterly with their figures. Making Tax Digital, or MTD as its commonly
Making Tax Digital, or MTD as its commonly known, is the Government’s plan to make the UK the world’s most digitally advanced taxation system. HMRC believe that MTD will help eliminate estimated annual tax losses of £8 billion due to avoidable tax errors. MTD is due to be introduced in
If you are in business you may not be aware, but from 2018 most businesses, the self-employed and landlords will need to use specialist software or apps to record and categorise receipts and expenses and to update HMRC quarterly with their figures. As things currently stand, under the Making Tax
You may have heard us talk a lot about Making Tax Digital (MTD) recently. But why is the Government so keen to press ahead with this project? After all, millions of taxpayers file their tax returns successfully now, so why try to fix something that isn’t broken? Governments generally want