Search Results for making tax digital
Making Tax Digital for Income Tax Self Assessment to now be mandated starting from April 2026
21st December 2022The Government has announced that Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) will now be mandated starting from April 2026, rather than from April 2024. Recognising that businesses and self-employed individuals are currently facing a challenging […]
Read MoreMaking Tax Digital April Threshold Changes
29th March 2022From April 2022 businesses that charge VAT but with a turnover below £85k will need to ensure compliance with the Making Tax Digital scheme. Impacting some 1.1m businesses, paper VAT records or those through the HMRC portal will no […]
Read MoreWhat does Making Tax Digital mean for charities?
27th May 2019What does Making Tax Digital mean for charities? From April 1st, UK businesses with an annual taxable turnover of more than £85,000 were required to start keep and submit digital VAT records via HMRC’s Making Tax Digital (MTD) system. Charitable […]
Read MoreChanges to R&D Tax Credit Claims from August 2023
23rd June 2023The R&D Tax Relief Scheme is a valuable tax relief for those eligible businesses investing in new product development or innovation. From 1st August 2023 you will need to submit claims digitally and provide Additional Information to HMRC using a […]
Read MoreReduction in Capital Gains Tax Annual Allowance from April 2023: Plan now for best efficiency
6th March 2023From April 2023 we will see the implementation of the proposed reduction in Capital Gains Tax Allowance. Any taxpayer seeking to dispose of their assets will need to consider the impact of the reduced allowance on consequent tax liabilities. Initially […]
Read MoreUK Tax Deadlines and Key Dates: What You Need to Know
14th February 2023As a self-employed individual or a sole trader in the UK, it is your responsibility to meet the deadlines for submitting your self-assessment tax returns. Filing your self-assessment tax return and paying any liabilities due on time and accurately is […]
Read MoreLooking ahead to 2023: tax and accountancy changes to be aware of
7th December 2022With the number of changes announced (and often retracted) in 2022, you’d be forgiven for being confused about what is actually happening in the world of tax and accountancy for 2023. In this article we summarise some of the key […]
Read MoreUK Tax News – July 2022
20th July 2022Our monthly round-up of the latest tax news affecting UK businesses. This month we’re talking about: The latest on MTD for self-assessment draft legislation National Insurance threshold changes HMRC R&D tax fraud investigations Ongoing struggles with MTD New HMRC online […]
Read MoreHow to pay your tax bill for 2019
4th January 2018You may already know the basics when it comes to understanding how to pay your tax bill, but it’s always helpful to have a go-to guide. Incurring a fine because of a small technicality or missing a simple deadline can […]
Read MoreKey Takeaways: Autumn Budget 2024
31st October 2024Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. In our Autumn 2024 budget breakdown, we talk about the key takeaways from this week’s announcement. […]
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