Making Tax Digital update
Launched on 1 April 2019, most VAT registered businesses are now required to comply with the new Making Tax Digital for VAT regime. Making Tax Digital for VAT is mandatory for businesses registered for VAT and with a taxable turnover
Read more...Are you registered for Making Tax Digital yet?
Launched on 1 April 2019, most VAT registered businesses are now required to comply with the new Making Tax Digital for VAT regime. However, many businesses may not be aware that they are required to register to use the new
Read more...Just over half of businesses are prepared for Making Tax Digital
A new study into preparations for Making Tax Digital amongst businesses has found that only 57 per cent of firms are ready to comply with the new regime by 1 April 2019. Despite the various delays and changes to the
Read more...MTD for VAT clarified in new communication from HMRC
HM Revenue & Customs (HMRC) has finally issued a new notice on Making Tax Digital for VAT in which it has clarified many of the questions that businesses had. VAT notice 700/22: Making Tax Digital for VAT has been created
Read more...Professionals call on Treasury not to lower VAT threshold before MTD and Brexit
The Low Incomes Tax Reform Group (LITRG) of the Chartered Institute of Taxation (CIOT) has called on the Treasury to resist pressure to reduce the VAT threshold from its current £85,000 until after the implementation of Making Tax Digital (MTD)
Read more...More than two-fifths of small business owners are still unaware of MTD
According to a new study, Making Tax Digital (MTD) is currently one of the biggest concerns for VAT-registered small business owners. The research, prepared by Intuit QuickBooks, found that more than three-quarters of SME owners found the legislation challenging and
Read more...Government Brexit redeployments to delay Making Tax Digital for Individuals
A number of key projects at HM Revenue & Customs (HMRC) have been placed on hold to make staff available for Brexit issues, including Making Tax Digital for Individuals. The simple assessment rollout and real-time tax code changes, both part
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