Making Tax Digital Articles

‘Making Tax Digital’ Looms for more Limited Company Contractors
marketing | 17 February 2022
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‘Making Tax Digital’ Looms for more Limited Company Contractors.

The Government’s flagship digital tax policy will be extended to include more contractors and limited company directors from April 2022.

Making Tax Digital (MTD) is HMRC’s strategy to make taxes easier and more efficient. But complying with the rules does come with an additional cost for businesses that need to use Government-approved accounting software.

 

marketing | 20 January 2016
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A controversial proposal that could see small business owners forced to update their tax bill four times a year will be debated in parliament next week, after an online petition was signed by more than 100,000 people.

The parliamentary petitions committee, which handles online petitions, has scheduled a debate on ‘quarterly tax returns’ for the afternoon of the 25th of January.

Small business owners reacted angrily when the proposal was first announced by Chancellor George Osborne at his Autumn Statement. To vent frustration, business owner Paul Johnson started an online petition that has since been signed by over 107,000 people. 

Landlords and the self-employed: the way you report income is changing. Everything you need to know about Making Tax Digital for Income Tax Self-Assessment (MTD ITSA)

Currently landlords and the self-employed submit an annual tax return to HMRC.

A new system is taking over in 2024. Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) will mean more frequent submissions to HMRC. We’ve outlined the plans below.  Read on to learn if you’ll be affected.