Making Tax Digital

Tax | HMRC extends beta trial for agent access to client data

HMRC has extended the trial of a pre-release version extension of its PAYE for the agent’s online service which allows agents to see employer liabilities and payments

14 Oct 2021

Tax

Tax | Small firms spend £25bn a year on tax admin

The Making Tax Digital initiative, which the government states should be ‘making it easier for individuals and businesses to get their tax right’ has significantly increased costs and admin burdens for small firms

14 Oct 2021

Tax | Basis period reform needs to happen before MTD extension

The UK’s accountancy institutes are concerned that without an improved basis period reform then Making Tax Digital (MTD) for income tax will not be successful

12 Oct 2021

Tax

Making Tax Digital

Business tax

Tax | MTD for income tax delayed by a year until 2024

In a statement to MPs today, new financial secretary to the Treasury Lucy Frazer has confirmed that the introduction of Making Tax Digital (MTD) for income tax will be postponed by a year

24 Sep 2021

Tax

Making Tax Digital

Tax planning

Tax | Lords launches probe into changes to income tax basis

The House of Lords Finance Bill Committee is planning to investigate the income tax basis period reform and uncertain tax treatment and has launched a consultation

17 Sep 2021

Tax

Making Tax Digital

Business tax

Tax | Scrap self-assessment tax reforms says ICAEW

The Institute of Chartered Accountants in England and Wales (ICAEW) has called for the government to drop the self-assessment tax reform plans as it ‘will likely create as many problems as it might solve’

3 Sep 2021

Tax | Eight out of 10 plumbers at risk of Making Tax Digital penalties

New figures reveal that two-fifths, 41%, of plumbers are unaware of the impending Making Tax Digital (MTD)

3 Sep 2021

Tax | Making Tax Digital: preparing accountants for MTD

Next year sees the rollout of the extension to Making Tax Digital for self-employed people, which means accountants need to start preparing their clients, explains Lee Murphy, managing director at The Accountancy Partnership

27 Aug 2021

Tax

Making Tax Digital

Tax | HMRC extends PAYE online pilot scheme for agents

HMRC is inviting tax agents with fewer than 500 employer clients to join its agent online service (AOS) pilot which gives agents access to liability and payments data in clients’ PAYE for employers accounts

25 Aug 2021

Tax | Accounting bodies call for delay to basis reporting

Five UK tax and accounting bodies have urged the government to delay reforms to the tax system which would affect how self-employed people and businesses report their profits

23 Aug 2021

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