Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) represents a significant shift in how individuals, including landlords, must report their income and manage their tax affairs.
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Staying up to date with MTD for ITSA
In December 2022, the plans for Making Tax Digital for Income Tax Self-Assessment changed again, as the Government announced that instead, MTD ITSA would be introduced in mandatory phases from 6 April 2026, as opposed to 2024.
Read moreHow the Spring Statement will affect businesses and individuals
The Chancellor’s Spring Statement has attracted a mixed reaction, with some tax changes going ahead, some promised later and a hoped for move on VAT in the hospitality sector not appearing.
Read moreBusinesses that do not use MTD for VAT make more errors than those that do, study reveals
Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.
Read moreMaking Tax Digital – what you need to know ahead of 2022-23
On 1 April 2019, HM Revenue and Customs (HMRC) introduced its new digital tax initiative – Making Tax Digital (MTD) – and its first phase, MTD for VAT.
Read moreMTD for Income Tax delayed until April 2024, HMRC confirms
Making Tax Digital (MTD) for Income Tax will be delayed until April 2024, the Government has confirmed.
Read moreHMRC: Making Tax Digital to be extended to all VAT-registered businesses from 2022
HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022.
Read moreBusinesses who defer VAT payments should continue to file returns as usual, says HMRC
Businesses who have deferred VAT payments until the end of June 2020 should continue to file Making Tax Digital (MTD) returns as normal, the regulator has confirmed.
Read moreNo small issue – The importance of accounting in microbusinesses
Small and medium-sized enterprises (SMEs) account for the majority of the business population in the UK, producing trillions of pounds in revenue every year. However, a large amount of their time is spent working on financial admin.
Read moreVAT receipts rise to record £133 billion
The amount of VAT collected in the last 12 months has risen to a record £133 billion, with a significant contribution from the retail and wholesale sectors.
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