Making Tax Digital

Tax / HMRC gives limited MTD ‘digital links’ extension

HMRC has extended the Making Tax Digital (MTD) for VAT compliance date for businesses judged to have complex or legacy IT systems and they will be given extra time to meet the requirement to maintain digital links as part of the new filing regime

Tax / Tax filing deadlines: Oct-Dec 2019

The key HMRC filing deadlines from October to December 2019 including notification of chargeability for income tax/capital gains tax for 2018-19 if not registered for self assessment, loan charge payment deadline and Making Tax Digital for VAT reporting for deferred entry businesses

Tax / 120,000 businesses miss first MTD for VAT deadline

Some 120,000 businesses have missed the first deadline for filing under the Making Tax Digital regime, and HMRC has sent out ‘TV licence’-style reminders urging them to do so before next month, but will not be taking enforcement action at present

Tax / Tax filing deadlines: Sep-Dec 2019

The key HMRC filing deadlines from September to December 2019 including corporation tax second quarterly instalment payment for companies with annual taxable profits exceeding £20m, loan charge deadline for reporting to HMRC any disguised remuneration issues, and Making Tax Digital for VAT compliance deadline for deferred entry businesses

Tax / Tax updates: September 2019

In this month’s roundup of tax case, Ingenious film scheme ruled tax avoidance at appeal, worker cannot claim tax relief on contractor travel expenses in Nowak, Hargreaves Lansdown loses £15m loyalty bonus tax case, Making Tax Digital confirmation notices and IR35 private sector off-payroll working guidance issued

Tax / Making Tax Digital for VAT webinar date

HMRC is running a live webinar on Making Tax Digital for VAT compliance this Friday to help businesses who have not yet signed up for mandatory digital reporting

Tax / Making Tax Digital IT maintenance affects submission process

HMRC has resolved a technical issue affecting submissions of Making Tax Digital for VAT returns following IT maintenance over the weekend

Tax / One in 10 businesses miss MTD for VAT filing deadline

An estimated 120,000 businesses have missed the deadline to sign up for Making Tax Digital for VAT, meaning that technically they should be due a penalty from HMRC

Tax / MTD for VAT trips up monthly taxpayers

Nearly 4,000 businesses who pay VAT monthly have missed the monthly Making Tax Digital VAT filing deadlines since April

Tax / HMRC will not send out confirmation emails for MTD VAT returns

HMRC has issued a last-minute update to its guidance stating that it will not be sending out confirmation emails on receipt of Making Tax Digital for VAT submissions

Tax / Half of small businesses make VAT return errors

Half of small businesses say they have made mistakes when sending in their VAT return and only a quarter are confident they have the figures correct despite spending more than an hour checking

Tax / What you need to know about Making Tax Digital

The deadline for the first round of VAT returns under Making Tax Digital (MTD) is fast approaching – here’s what you need to know if you haven’t already filed your first VAT return via MTD

Tax / Tax updates: August 2019

In this month’s round-up of tax cases and news, more IR35 woe for HMRC while GAAR panel kicks out bond scheme, Finance Bill 2019-20 confirms £1.1bn payroll extension to private sector, Making Tax Digital penalty leniency, capital goods scheme simplified and UK multinationals challenge CFC rules

Tax / Tax filing deadlines: Aug - Dec 2019

The key HMRC filing deadlines from August to December 2019 including deadline for estimated first Making Tax Digital submission falls one calendar month and seven days after end of relevant VAT quarter, forms P46(Car) for quarter ended 5 Jul (where benefits not payrolled) to HMRC and public sector employment intermediary’s quarterly report

Tax / HMRC blames Brexit for shortcomings in service delivery

HMRC says that the pressure of preparing for Brexit has adversely affected business operations including call centre targets
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