Making Tax Digital

Tax / Making Tax Digital serviceability levels too low

HMRC has released a slew of research reports on progress with its flagship Making Tax Digital (MTD) online reporting regime, suggesting that businesses which have fully automated are seeing some benefits, but those with a hybrid approach are finding the transition more challenging

Tax / MTD threat to farmers, warns CLA

The Country Land and Business Association (CLA) is calling for an overhaul of the tax system for rural businesses particularly in light of Making Tax Digital for income tax plans

Tax / MTD for landlords and sole traders still at trial stage

HMRC has re-issued brief guidance on Making Tax Digital for landlords and sole traders who will be required to report income tax quarterly at some stage in the future, although it is still only a pilot and will not be mandatory

Tax / Making Tax Digital increases costs for businesses

Making Tax Digital is not reducing errors and is proving to be much more expensive to implement than HMRC originally claimed, according to a joint user survey by CIOT and ATT

Tax / Digital services tax will be temporary

The Chancellor has given the April digital services tax for multinationals the go ahead at the World Economic Forum, but only a short-term basis

Tax / US and France negotiate digital tax agreement

There are signs that France and the US are looking for a way to end their dispute over French plans to introduce a digital tax, which has seen the US threaten retaliatory tariffs on French products

Tax / Tips for taxpayers: Making Tax Digital for VAT

Nine months since the launch of Making Tax Digital (MTD) for VAT, late adopters have only filed once under the new system, some not even using accounting software due to the soft landing penalties regime. Philip McNeill and Dr Sarah McNeill explain the key compliance issues

Tax / Tax changes to look out for in Budget 2020

Stephen Relf CTA FCA, lead tax writer at Croner-i, casts his expert eye over likely changes to the rules, rates and allowances for taxes for the March Budget

Tax / Accounting causes stress to micro businesses

Micro businesses spend 10 weeks a year trying to sort out their finances and accounting compliance is one of the most stressful tasks

Tax / Over 3,000 self assessment returns filed on Christmas Day

Taxpayers decided to tick off their tax returns on Christmas Day, with 3,003 self assessment returns being filed

Tax / What do you think of Making Tax Digital?

CIOT and the ATT are running an online survey for tax professionals and businesses to provide feedback about their experiences of Making Tax Digital for VAT

Tax / HMRC cuts call waiting time to five minutes

The number of taxpayers calling HMRC to ask for advice and deal with problems has fallen with less use of phone services in October as more people go online to use digital services as the number of digital accounts exceeds 21m

Tax / Q&A: VAT myth buster

In our regular Q&A series from Croner Taxwise, Hilary Budd is myth busting five VAT questions from taxable turnover for Making Tax Digital to input tax on electric vehicles

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
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