Keeping the UK’s tax system running effectively and up to date with advances in technology is no easy task. But the introduction of the Government’s ‘Making Tax Digital (MTD)’ initiative is intended to solve this problem, by moving most taxation over to a digital...
As a business owner, you will find that few things in your line of work are as precious as your time – time that would be better spent doing something other than accounting. Many people come to us asking for help with tasks that usually result in time slipping through...
Introduction Self employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023. What is “Making Tax Digital”? Making Tax...
What’s ahead for companies, from rate rises to Making Tax Digital. For the past 40 years or so, corporate tax rates have decreased steadily around the world. In 1980, the global average stood at around 40%, but by the end of 2020 it was closer to 24% as various...
Making Tax Digital. It’s at the heart of the government’s vision of a modern, transformed tax administration. With a consultation now running, Making Tax Digital (MTD) for corporation tax is on its way. MTD: at a glance For the government, MTD for corporation tax (CT)...
Introduction From the 1 April 2022, MTD for VAT will apply to all VAT registered businesses regardless of the level of turnover. The first VAT period to which MTD applies to all VAT registered businesses (who are not already doing so) will be the one commencing on or...
