Making Tax Digital

Tax | CIOT sets out three-point tax plan for incoming PM

Experts at the Chartered Institute of Taxation (CIOT) are calling for the next prime minister to review the Making Tax Digital rollout timetable and simply the tax system

24 Aug 2022

Tax

Making Tax Digital

HMRC

Tax | HMRC confirms MTD penalties from 1 November

The head of HMRC has written to accountancy firms informing them that the soft landing penalty waiver for Making Tax Digital for VAT will be removed from November

19 Aug 2022

Tax

Making Tax Digital

Tax compliance

Tax | MTD for ITSA: opportunity for accountants

The next big change in the tax world is the move to Making Tax Digital for Income Tax, which will give accountants a potential new revenue stream, explains Sam O’Connor, CEO and co-founder, Coconut

18 Aug 2022

Tax

Making Tax Digital

Personal tax

Tax | MTD ‘very challenging’ for one in four SMEs

Making Tax Digital (MTD) is an ‘extremely’ or ‘very’ challenging issue for one in four businesses in the UK with concerns about the extension of the scheme to income tax

10 Aug 2022

Tax

Making Tax Digital

Tax | Copy and paste MTD guide adds to confusion

A lack of detailed HMRC guidance about the upcoming reporting requirements for Making Tax Digital (MTD) for income tax self assessment has raised concerns among tax experts

1 Aug 2022

Tax

Making Tax Digital

HMRC

Tax | HMRC to relaunch VAT Registration Service (VRS)

HMRC has been developing a new VAT Registration Service (VRS) which will speed up the process and automatically register businesses for Making Tax Digital

21 Jul 2022

Tax | One in five sole traders not heard of MTD for income tax

With just over 18 months to go until rollout, one in five UK sole traders have still not heard of Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), despite the government announcing it seven years ago

29 Jun 2022

Tax

Making Tax Digital

Tax | Penalties for Making Tax Digital harsh and outdated

The Association of Taxation Technicians (ATT) is urging the government to rethink the outdated penalties for not complying with Making Tax Digital (MTD) for VAT

16 Jun 2022

Tax | MTD for income tax pilot opened up to more taxpayers

HMRC plans to extend the pilot for Making Tax Digital (MTD) for income tax self assessment, opening up the pilot to more self employed workers and landlords

15 Jun 2022

Tax | Making Tax Digital for Corporation Tax: reporting pitfalls

The move towards digitalisation of corporation tax reporting will affect businesses from 2026, creating a larger reporting burden for businesses, explains Russell Gammon, chief solutions officer at Tax Systems

9 Jun 2022

Tax | Business understanding of MTD extension worryingly low

Half of businesses did not understand their reporting obligations under the extension of Making Tax Digital for VAT, even in January of this year

9 Jun 2022

Tax

Making Tax Digital

Tax | Landlords not aware of Making Tax Digital for income tax

Nearly 40% of respondents to the latest HMRC IPSOS research on Making Tax Digital said that it would be difficult to start reporting income tax on a quarterly basis when rules come into force in 2024

6 Jun 2022

Tax | Treasury minister sets out tax priorities

The extension of Making Tax Digital to landlords and sole traders is critical for the government, as is reform of R&D tax reliefs and the apprenticeship levy, confirms minister

28 Apr 2022

Tax | New tax year: how it affects your personal finances

The new tax year starts on 6 April with a number of tax changes that will affect personal finances. As the 2021-22 tax year draws to a close, Stevie Heafford, tax partner at HW Fisher outlines the 10 key changes

5 Apr 2022

Tax | Filing deadlines: April - June 2022

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates for PAYE cheque payments, VAT quarterly instalments, and Making Tax Digital (MTD)

1 Apr 2022

Tax | Less than one week to go for Making Tax Digital

Businesses have less than a week to prepare for Making Tax Digital (MTD) for VAT becoming mandatory for VAT-registered businesses on 1 April, warns HMRC

28 Mar 2022