Making Tax Digital

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

Tax / Public trusts accountants over politicians on tax

The public has greater trust in professionals, including accountants and tax advisers, than in politicians and non-government organisations (NGOs), when it comes to tax systems but the increasing complexity of tax systems comes in for criticism across G20 countries

Tax / HMRC sets up innovation team to drive IT collaboration

HMRC is investing more resources in technology, artificial intelligence (AI) and ground-breaking technology with the creation of the first innovation team at the tax authority briefed to collaborate with external IT specialists to develop innovative software to improve tax collection and close the tax gap

Tax / Making Tax Digital: looking to the future

The arrival of Making Tax Digital (MTD) for VAT reporting from April 2019 is forcing businesses to upgrade their accounting practices. David McGeachy and Alison Hobbs of Saffery Champness examine the future plans for the extension of MTD to all taxes

Tax / MTD: examples from around the world

There are just over 70 days until Making Tax Digital (MTD) goes live in the UK. James Bunney looks at several other countries where digital reporting has been introduced in recent years

Tax / Making Tax Digital engagement letters released by tax institutes

With less than 80 days to the rollout of Making Tax Digital for VAT, a number of professional institutes, inlcuding AAT, ACCA, ATT, CIOT and STEP, have released initial engagement letters defining client relationships under the new digital reporting framework

Tax / Making Tax Digital: where are we now?

Making Tax Digital (MTD) for VAT, which goes live in April 2019, has left accountants confused and businesses struggling to keep up. James Bunney examines the current situation and what MTD means for the future of business tax

Tax / VAT Q&A: Payments on Account regime and threshold compliance

In our regular VAT Q&A series, Croner Taxwise VAT specialist Hilary Budd explains the ins and outs of the payments on account (POA) regime for a business straddling the POA threshold and how to leave the scheme

Tax / MTD pilot extended to all eligible businesses

The pilot programme for Making Tax Digital (MTD) for VAT has been extended by HMRC to all businesses that meet the requirements, giving those affected time to test their systems and train staff ahead of the April deadline

Tax / Making Tax Digital is an opportunity, not a threat

Kim Hau, senior proposition manager for Onesource Indirect Tax, explains the benefits of different Making Tax Digital (MTD) for VAT software solutions and why companies should embrace a comprehensive approach rather than a quick fix

Tax / Dodwell: final countdown to Making Tax Digital for VAT

With the mandatory deadline to digitally report VAT under HMRC’s Making Tax Digital racing down upon us, Bill Dodwell, senior policy adviser at OTS, says this will not mean an immediate end to spreadsheet reporting as HMRC has accepted that some VAT calculations are just too complicated to comply immediately and more work needs to be done

Tax / HMRC turns to universities for digital expertise

With the introduction of Making Tax Digital for VAT only three months away, HMRC is looking to recruit tax specialists with digital skills, along with data analysts and digital experts

Tax / Editor’s comment: a year of turbulence

Sara White, editor of Accountancy Daily, takes a look back at a turbulent year for the tax, audit and accounting profession from the challenges of Brexit, the breakdown in trust in the audit market, calls for the breakup of the Big Four audit firms and the move towards mandatory digital reporting under Making Tax Digital for VAT 
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