Making Tax Digital

2
Feb

Making Tax Digital Registration Reform

  In July 2020, the government published a 10-year strategy to build a trusted, modern tax administration system, including how taxpayers are identified and registered by HMRC. The government is seeking views on how and when taxpayers with new sources of self-employment or property income should start to interact with the tax system and whether current processes can be updated

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4
Oct

Making Tax Digital ITSA Delay

  Making Tax Digital ITSA (Income Tax Self Assessment) mandation has been delayed again until April 2024. HMRC is nudging taxpayers again with letters about discrepancies between PAYE and benefits reported under RTI, and the details shown on their tax returns. The Financial Secretary to the Treasury released a written statement to the House of Commons on 23 September confirming

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12
Jul

Latest MTD for VAT

  Latest MTD for VAT HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the latest MTD for VAT rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC

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7
Apr

MTD for VAT

  MTD for VAT HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the new rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using MTD functional compatible

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8
Mar

Making Tax Digital for VAT: Start date looming

  Making Tax Digital for VAT: Start date looming Making Tax Digital update: The Financial Secretary to the Treasury, Mel Stride, has made a statement to the House of Commons setting out HMRC’s progress on delivery of Making Tax Digital (MTD). He confirmed there would be no further delays in implementation. For most businesses, compliance with the regulations is mandated for

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6
Feb

MTD for VAT: Pilot extended to all eligible businesses

  MTD for VAT – pilot extended to all eligible businesses HMRC has extended its Making Tax Digital for VAT (MTDfV) pilot scheme to all eligible businesses. For most businesses, compliance with the regulations is mandated for VAT return periods beginning on or after 1 April 2019. However, MTD for VAT for some ‘more complex’ businesses has been deferred until

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13
Dec

MTD warning: SMEs ‘could pay heavy price’

MTD warning: Small businesses ‘could pay heavy price’ for MTD, committee warns The Economic Affairs Committee has issued an MTD warning to HMRC, stating that small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTDfV). The Committee stated that HMRC has ‘failed to adequately support small businesses’ ahead of the introduction of MTDfV. MTDfV is generally set to

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6
Nov

Making Tax Digital for VAT public pilot opens

  Making Tax Digital for VAT public pilot opens and deferral for some businesses HMRC has opened the Making Tax Digital for VAT (MTDfV) public pilot. However certain VAT-registered businesses (around 3.5% according to HMRC) with more complex requirements will be deferred from being subject to MTD for six months. Essentially, the public pilot is now open to sole traders

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6
Sep

Making Tax Digital for VAT – software suppliers

  Making Tax Digital for VAT – software suppliers HMRC is working with more than 150 software suppliers who have said they will provide software for Making Tax Digital for VAT (MTDfV) in time for April 2019. From 1 April 2019, businesses will be mandated to use the MTDfB system to meet their VAT obligations under MTDfV. Only businesses with

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10
Aug

Making Tax Digital VAT Guide

MTD for VAT is now the law Our Making Tax Digital VAT guide let us help your business navigate MTD Making Tax Digital VAT Guide: MTD for VAT – now required for VAT return periods beginning on or after 1 April 2019 HMRC is phasing in its landmark Making Tax Digital (MTD) regime in April 2019. This will ultimately require taxpayers
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