Confusion Over MTD Letters

Confusion Over MTD Letters

HMRC is sending out two different letters about Making Tax Digital; one regarding VAT which is a reminder to some businesses that they must comply from April 2022. The other is about MTD for Income Tax Self-assessment which isn’t mandatory until April 2024. Which MTD?...
New MTD Timetable

New MTD Timetable

New MTD timetable Making Tax Digital (MTD) is a Government initiative that aims to provide the UK with one of the most digitally advanced tax administrations in the world. Under MTD, taxpayers are required to keep electronic records and report to HMRC digitally. MTD...
Paying Employees Early at Christmas

Paying Employees Early at Christmas

Paying employees early at Christmas Under Real Time Information (RTI), you must report payments made to employees and associated deductions to HMRC on a Full Payment Submission (FPS) at or before the time at which you make the payment to your employee. However,...
Keeping the Christmas Party Tax-Free

Keeping the Christmas Party Tax-Free

Keeping the Christmas party tax-free If you are holding a Christmas party for staff this year, you may want to take advantage of the tax exemption for annual parties and functions to prevent your employees from suffering a benefit-in-kind tax charge. Keeping the...