Spring Budget 2021 – VAT
Find out more about the changes to VAT announced in the latest Budget.
SME’s with legacy IT systems have been given a further year to comply with complex new digital tax rules
HM Revenue and Customs (HMRC) introduced the new Making Tax Digital (MTD) programme in April 2019. Since then, most self-employed people and business owners with a turnover above the £85,000 VAT threshold have been forced to file their returns online using specialised software.
Making Tax Digital for VAT comes into force
Making Tax Digital (MTD) is finally upon us, with more than a million VAT-registered businesses now included in the programme for VAT returns and record-keeping. While voluntary MTD pilots have been open to the public for income tax and VAT since 2018, this is the...
Making Tax Digital: the timing issues of VAT direct debits
In a recent update from HM Revenue & Customs (HMRC), some care is needed when ‘signing up’ for Making Tax Digital.
Making Tax Digital: Is your Business Ready?
As part of the government’s initiative to make the UK’s tax system “fit for the 21st Century”, Making Tax Digital (MTD) will see all businesses submitting all of their tax and VAT information to HM Revenue & Customs quarterly using MTD-compliant software.