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?
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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.
Help To Grow: Digital support scheme
Is your business looking to grow by adopting digital technologies? We take a look at the Government’s Help To Grow: Digital Scheme.
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.
Making Tax Digital for Income Tax
How will making Tax Digital for Income Tax – MTD ITSA – affect your business? An explanation of HMRC’s current proposals.
Plans to extend Making Tax Digital
On 21 July the government published its 10 year strategy for the tax system. This included its plans to extend the Making Tax Digital initiative.
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