Making Tax Digital

Tax / Nunn: HMRC caves on copy and paste for MTD year one

HMRC’s decision to allow companies a soft landing without penalties for Making Tax Digital for VAT is welcome but there is still much confusion about the software requirements for companies, says Yvette Nunn CTA, owner partner at Berkeley Associates

Tax / Editor’s comment: 25 days and counting

The deadlines for Brexit and the overhaul of VAT reporting under Making Tax Digital are uncomfortably close, while the risk of reverting overnight on 29 March to third country status for exports and audits, are just some of the bigger unknowns for business, tax advisers and accountants, says Sara White, editor of Accountancy Daily

Tax / Tax updates: March 2019

In this month’s round up of tax developments, Harry Potter star loses appeal, HMRC fines homeless man, landmark overseas powers case, July deadline for first MTD, child benefit eligibility warning, Brexit VAT expenses deadline, probate fees hike

Tax / 1.17m businesses still to sign up to Making Tax Digital

With only one month to go, there are still 1.17m businesses, out of a total of 1.2m, which are yet to sign up to Making Tax Digital for VAT, although HMRC says 2,000 business are now signing up each day

Tax / July deadline for first MTD for VAT filing for complete quarter

Companies will not have to file their first digital VAT return under Making Tax Digital for VAT until 1 July at the earliest, although the digital reporting requirement becomes mandatory in April

Tax / Only 45% of businesses plan to sign up to Making Tax Digital for VAT before deadline

With six weeks to go to the launch of Making Tax Digital for VAT, HMRC research indicates 81% of VAT mandated businesses are aware of the new requirements and a similar proportion have started to prepare for the changes, although only 45% plan to sign up before the April deadline

Tax / Businesses not ready for Making Tax Digital VAT deadline

Nearly two thirds of businesses (64%) say that Making Tax Digital is a good idea but that they need more support with their plans ahead of the deadline of 1 April for mandatory digital VAT reporting, and only 12% are confident of their approach, according to research from KPMG

Tax / HMRC opens agent services account to overseas applicants

HMRC has published guidance on how to apply for approval to get an agent services account for agent businesses based outside the UK, in an extension of its current functionality

Tax / Soft landing for Making Tax Digital for VAT will allow 'cut and paste'

With less than 50 days to go until Making Tax Digital for VAT becomes mandatory for businesses registered for VAT, HMRC has confirmed that companies will be able use a 'cut and paste' approach during the one-year soft landing before companies need to use digital links 

Tax / Nunn: avoid falling foul of the taxman over property sales

The ever daunting volume of tax code leaves taxpayers confused and liable to be caught out by ever more arcane tax rules. Yvette Nunn CTA, founder of Berkeley Associates, gives a candid view of some of the more complex tax traps from compliance with non residential CGT to the risks of falling foul of the annual allowance when saving for a pension 

Tax / EXCLUSIVE: Top 75 Firms hit £15bn barrier in 5% growth surge

Fee income at the Top 75 accounting firms has reached a record £15.75bn, increasing revenue by more than 5% in the last 12 months despite a barrage of criticism of the Big Four audit firms over contentious listed audits, Brexit concerns and business uncertainty

Tax / Making Tax Digital: an interview with HMRC’s Theresa Middleton

Making Tax Digital for VAT is rapidly approaching, with only two months until digital VAT filing becomes mandatory on 1 April. Amy Austin, reporter at Accountancy Daily, went to meet Theresa Middleton, director of Making Tax Digital for Business at HMRC to talk about how successful the pilot has been and what issues have been raised, how HMRC will handle the onslaught of queries and how it will ramp up efforts to make people of aware of the requirements to file digitally going forward

Tax / Tax updates: February 2019

This month's review of tax cases and tax news including taxpayer loses £1m Excalibur scheme appeal, HMRC targets multinationals with profit shifting disclosure, tribunal confusion over BlackRock VAT for financial services case

Tax / Filing deadlines: Feb - Jul 2019

The key HMRC filing deadlines from February to July 2019 including Forms P46(Car) for quarter ended 5 Jan, PAYE cheque payments for month ended 5 Feb and payment of outstanding income and CGT in respect of personal tax returns for 2017/18 to avoid 5% surcharge

Tax / Charities urged to prepare for Making Tax Digital VAT

The Charity Commission is urging trustees to ensure charities are getting ready for the implementation of Making Tax Digital for VAT, which starts on 1 April
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