It has been officially reported that Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) has been postponed until April 2026. MTD for ITSA was set to become mandatory from April 2024 where sole traders or landlords with a gross income of £10,000 or more...
MTD non-compliance penalties also published. After much anticipation from accountancy bodies and businesses, HMRC has finally updated its guidance on Making Tax Digital (MTD), filling in several blanks. HMRC updated some of its informational pages on GOV.UK in late...
Keeping the UK’s tax system running effectively and up to date with advances in technology is no easy task. But the introduction of the Government’s ‘Making Tax Digital (MTD)’ initiative is intended to solve this problem, by moving most taxation over to a digital...
As a business owner, you will find that few things in your line of work are as precious as your time – time that would be better spent doing something other than accounting. Many people come to us asking for help with tasks that usually result in time slipping through...
Introduction Self employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023. What is “Making Tax Digital”? Making Tax...
What’s ahead for companies, from rate rises to Making Tax Digital. For the past 40 years or so, corporate tax rates have decreased steadily around the world. In 1980, the global average stood at around 40%, but by the end of 2020 it was closer to 24% as various...
