What is Making Tax Digital?
Making Tax Digital (MTD) is part of HM Revenue & Customs (HMRC) wider digital strategy to make it easier for individuals, businesses and other organisations to ensure their tax affairs are in order.
Read articleWhen does Making Tax Digital come into effect?
April 2019 VAT registered businesses/organisations with a turnover over £85k. From the beginning of the first VAT period ...
Read articleWill it affect you or your business/organisation?
If you currently do a tax return or VAT returns then the simple answer is yes.
Read articleAre there any exclusions or exemptions?
The April 2019 date for MTD for VAT is only where turnover is above the VAT threshold.
Read articleWhat do you need to do to get to grips with Making Tax Digital?
MTD requires individuals, organisations and businesses to keep and maintain records in a digital form.
Read articleAccounting software options for Making Tax Digital
Clients use a wide range of different software, some very simple and some very complicated, for running significant multi-site operations.
Read articleSage 50 and Making Tax Digital
If you are a Sage 50 user working on version 23 or below, you are likely to be contacted by ...
Read articleWhat happens if you do nothing about Making Tax Digital?
The requirement to keep digital records and make quarterly submissions will be statutory and therefore cannot be ignored. Just as you have to make VAT submissions or file a tax return now, you will have to comply with these new requirements.
Read articleMaking Tax Digital and Landlords
Those with rental income will be required to comply with MTD requirements. For jointly owned property, each individual must make ...
Read articleMaking Tax Digital and Charities
VAT registered Charities must note that they will be required to adopt and comply with MTD. This means that, unless ...
Read articleMaking Tax Digital and free software
You may be tempted to find free software solutions to comply with Making Tax Digital and whilst these may exist, we would issue a word of caution.
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