How confident do you feel when you upload your information? Is your VAT return right when you press that ‘submit’ button? We’ve all been submitting vat returns online for some years now, through the .gov.uk gateway, albeit with information generated elsewhere. Making Tax Digital is now live, where real time accounts information is submitted from […]

Continuing our Making Tax Digital series, this guest post from QuickBooks considers MTD in the context of the broader trend towards digital and cloud-based accountancy solutions. Nearly three and a half million enterprises use QuickBooks as the basis for their accounting, and as a global brand it offers a valuable insight into the latest business […]

As many readers of our newsletter will be aware, HMRC is moving forwards with their digitisation of taxpayer VAT and Income Tax reporting requirements. Here are some of the latest announcements made by HMRC on the Making Tax Digital timeline. Making Tax Digital Timeline Mandatory filing of VAT returns using MTD compliant software will commence […]

In the recently published draft clauses that will form the basis of the Budget later this year, HMRC has outlined a significant change to the way they will be levying penalties for late filing breaches under the Making Tax Digital regulations, with points based tax penalties. Rather than base penalties on each transgression, taxpayers will […]

As our regular readers will be aware, the government has back-tracked on their original proposal to digitise taxpayers’ affairs. The original plan, to have most self-employed traders and landlords uploading accounts and VAT data from April 2018, was scrapped. The new plan, delayed until April 2019, requires traders registered for VAT, and with turnover above […]