Making Tax Digital

Tax | Business owners at risk of penalties in digital tax overhaul

More than 2m SME owners are at risk of falling foul of the new digital bookkeeping rules and procedures ahead of Making Tax Digital (MTD) for VAT reform coming into force in 2022

4 Aug 2021

Tax

Making Tax Digital

VAT

Tax | ATT call to delay major change to how profits are taxed

The Association of Taxation Technicians (ATT) is calling for a delay to a major change in how trading profits are assessed for tax purposes, as well as appealing for more consultation time and a clear roadmap leading up to the proposed introduction of the proposals

22 Jul 2021

Tax | Making Tax Digital can cost over £400 to implement

The average cost of implementing Making Tax Digital for VAT is estimated at £411, while digital reporting has reduced the number of errors, according to the latest user research from HMRC

21 Jul 2021

Tax

Making Tax Digital

Tax | Government needs to simplify tax, says CIOT

With the government’s review of tax administration, the Chartered Institute of Taxation (CIOT) calls to create a tax system that is much simpler for taxpayers to navigate

19 Jul 2021

Tax | Making Tax Digital rollout under the spotlight

The rollout of Making Tax Digital may have slowed due to the pandemic but there is low awareness about the next stage covering landlords, small business and partnerships, warns Kevin McCallum, chief commercial officer at FreeAgent

13 Jul 2021

Tax

Making Tax Digital

Tax | ICAS calls for improvements to HMRC service levels

Overly complex tax rules and poor service standards need to be addressed to build taxpayer confidence in the tax system, warns ICAS

6 Jul 2021

Tax | Making Tax Digital is the priority for HMRC

Jesse Norman MP, financial secretary to the Treasury, has told businesses and accountants at the annual HMRC stakeholder conference that HMRC’s priorities for the future of the tax system will heavily involve Making Tax Digital (MTD)

27 Apr 2021

Tax | How to navigate Making Tax Digital

Compliance with Making Tax Digital for VAT means that uploading data via Excel spreadsheets is no longer allowed. Jim Scott, managing director of accountancy at IRIS Software Group, provides tips and advice

26 Apr 2021

Tax

Making Tax Digital

VAT

Tax | Filing deadlines: April to June 2021

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from inheritance tax due on lifetime transfers between 6 April and 30 September 2020, forms P46(Car) for quarter ended 5 April and employment intermediary’s quarterly reports

12 Apr 2021

Tax | Will the new late filing penalties be fair and consistent?

Meg Wilson, tax writer at Croner-i, examines the points-based late filing penalty regime being introduced in Finance Bill 2021 for VAT and income tax submissions

31 Mar 2021

Tax | April 2021 changes to Making Tax Digital (MTD) for VAT reporting

From 1 April 2021, UK VAT registered businesses will face more Making Tax Digital (MTD) obligations. Scott Craig, partner and head of VAT at Azets, explains the key changes and penalty system

30 Mar 2021

Tax | Deadline looming for end of digital linking for MTD

From 1 April, companies will have to report VAT payments electronically via software to comply with the Making Tax Digital (MTD) for VAT rules, following a year’s delay due to the pandemic

26 Mar 2021

Tax

Making Tax Digital

Tax compliance

Tax | Small businesses spend up to £3,500 for MTD migration

The latest HMRC research report into adoption costs of Making Tax Digital (MTD) for VAT has highlighted the range of costs for businesses moving to digital reporting

25 Mar 2021

Tax

Making Tax Digital

HMRC

Tax | Issues with Making Tax Digital for corporation tax

HMRC has launched its MTD for CT consultation but the proposals could well prove challenging. Russell Gammon, chief innovation officer, Tax Systems, looks at the potential sticking points

25 Jan 2021

Tax

Making Tax Digital

Consultations

Tax | Making Tax Digital: what's the long-term plan for corporation tax?

The ambitious plan to make UK tax fully digital for reporting purposes may have been delayed by the pandemic, but HMRC is still prioritising MTD for income tax and corporation tax. Croner-i tax writer Meg Wilson takes stock

22 Dec 2020

Tax | Tax updates 2020 part 2: business

In a round-up of the major business tax stories of the year, we look at non-coronavirus tax news, including SME R&D tax relief cap, IR35 reporting delay, Making Tax Digital (MTD) timetable for corporation tax, carbon emissions review and digital services tax

16 Dec 2020