Important facts about Making Tax Digital

Making Tax Digital

This post contains some important facts about Making Tax Digital.  Businesses and landlords who join Making Tax Digital must keep their business records digitally. They must also send tax information to HMRC directly from those records. VAT Firstly, from 1 April 2019, all VAT-registered businesses with a taxable turnover above the VAT threshold are required […]

The Making Tax Digital Timetable

Making Tax Digital

Making Tax Digital for VAT is open now and businesses are being mandated to use the service this year. Income Tax is also available now on a voluntary basis for the smallest businesses and landlords. See below for the Making Tax Digital Timetable The Making Tax Digital Timetable Date Note April 2019 Firstly, from 1 […]

The Background to Making Tax Digital

Making Tax Digital

Increasingly, businesses and agents see the benefits of digitisation. Consequently, millions are already banking, paying bills and interacting with customers or suppliers online.  Also, many are already using accounting software. The background to Making Tax Digital HMRC’s ambition is to become one of the most digitally advanced tax administrations in the world. Making Tax Digital […]

Introduction to Making Tax Digital

Making Tax Digital

Making Tax Digital for VAT Firstly, If you are the owner of a VAT-registered business, with a taxable turnover above the VAT threshold (£85,000), you have to keep digital VAT records and send returns using Making Tax Digital (MTD)-compatible software as from April 2019. You can find out here how to get ready for Making […]