The current situation with Making Tax Digital for Income Tax Self-Assessment – MTD ITSA, and what may happen next.
What is next for MTD ITSA?
read more
Making Tax Digital
Making Tax Digital
Embracing Making Tax Digital
How keen is the UK, in general, to embrace HMRC’s Making Tax Digital (MTD) initiative? Are we lagging behind other countries in adopting a digital system and have we gone far enough to digitise all business processes, rather than just the integration with the tax system?
Making Tax Digital for Income Tax Self-Assessment
HMRC has widened the pilot and simplified the quarterly requirements of Making Tax Digital for Income Tax Self-Assessment or MTD for ITSA for taxpayers with gross income from self-employment between £10,000 and the £85,000 VAT threshold, but many are concerned that the trial is too limited, the timescale too tight and the detail too brief to mean taxpayers will be ready for the April 2024 deadline.
Making Tax Digital for Income Tax Self Assessment Update
Stuart Hulland, Partner at Bates Weston gives an update on the next phase of Making Tax Digital, MTD for Income Tax Self Assessment, now that the MTD VAT deadline has passed.
Regular check ups on the financial health of your business
Regular check ups on the financial health of your business, particularly on cashflow, let you spot and resolve potential problems before they become major issues.
HMRC delays Making Tax Digital for ITSA
Although the government has delayed its plans for the introduction of Making Tax Digital for ITSA (Income Tax Self-Assessment), Bates Weston urges self employed and landlords to make the move to digital record keeping sooner rather than later.
Penalties for late submissions to HMRC
A recap of HMRC’s proposals to reform the penalties for late submissions to a points based system.
Chartered Institute of Taxation responds to HMRC’s consultation on basis period reform
A summary of the Chartered Institute of Taxation’s response to HMRC’s consultation on proposed basis period reform, allocating trading profits to tax years rather than accounting years.
Business Advisory Service – driving your business forward
BW Insight Business Advisory Service uses real time digital business records to provide real time advice to drive business improvements.
Looking to grow? Take the next step
From compliance to growth, our accounting firm in Derby has you covered. Call us to see how we can help.