This week’s Spring Statement brought two announcements that will matter to anyone running their own business or earning income from property.
Making Tax Digital
What should you avoid when transitioning to Making Tax Digital for Income Tax Self-Assessment?
From April 2026, the Government’s Making Tax Digital (MTD) initiative will move to target self-employed individuals and landlords.
Making MTD for ITSA easier for landlords
Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) represents a significant shift in how individuals, including landlords, must report their income and manage their tax affairs.
Making Tax Digital – Your questions, answered
Making Tax Digital (MTD) is designed to simplify the tax process for business owners.
How to use the new HMRC app for your tax returns
For small businesses navigating the Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative, tax returns can be complex.
MTD for ITSA postponed by two years
The Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative has been delayed by two years, it has been revealed.
Penalties for businesses failing to comply with Making Tax Digital
Are you signed up to Making Tax Digital for VAT? Failure to do so will result in penalties from 1 November 2022, HRMC has confirmed.
Latest deadline for Making Tax Digital for VAT comes into force imminently
A major change in the way VAT is reported comes into force from tomorrow. Every small business that charges VAT will have to file accounts through the HM Revenue & Customs (HMRC) Making Tax Digital (MTD) system.
Businesses that do not use MTD for VAT make more errors than those that do, study reveals
Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.
Making Tax Digital – what you need to know ahead of 2022-23
On 1 April 2019, HM Revenue and Customs (HMRC) introduced its new digital tax initiative – Making Tax Digital (MTD) – and its first phase, MTD for VAT.