The UK tax system is changing, with the introduction of Making Tax Digital (MTD). Find information about how MTD affects you and your business, what you need to do to comply, and when.
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is going to transform the way landlords and business owners report what they earn to HMRC. Despite the confusing acronyms, it’s vital that business owners and landlords familiarise themselves with Making Tax Digital and what it means for them, so they can be fully compliant…
Making Tax Digital (MTD) for VAT is in full swing, and HMRC will soon launch a new system for issuing VAT submission and payment penalties. The new points-based penalty system for Making Tax Digital for VAT will apply from January 2023. You can still be fined under the existing rules until then! Will I be…
Making Tax Digital, or MTD, is the government’s plan to improve the way that businesses record and report their tax. The rules are already in place for VAT registered businesses, and from April 2026 will expand to include Self Assessment. The changes mean that self-employed people and landlords earning over £50,000 a year must be…
Tax deadlines have a nasty habit of suddenly looming. Whether you’re waiting until the last minute to file your Self-Assessment, or you have another VAT deadline on the horizon….
Let’s start this with another question. Should you be talking to your clients about Making Tax Digital for Income Tax Self Assessment (ITSA)? Guidance around it is still fairly generic, so it’s difficult to offer clients much in the way of detail. But, the internet is slowly filling with articles rehashing what little is known…
