by Samantha Sutcliffe | May 6, 2022 | HMRC, MTD, Tax, VAT
MTD D-Day has arrived – here’s how to make sure you comply Anyone filing VAT returns from April 1, 2022 onwards now has to file their return digitally as HMRC’s Making Tax Digital reaches its next phase. All businesses registered for VAT – even... 
by Samantha Sutcliffe | Dec 22, 2021 | HMRC, MTD, VAT
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?... 
by Samantha Sutcliffe | Dec 16, 2021 | HMRC, MTD, VAT
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... 
by Samantha Sutcliffe | Nov 19, 2021 | HMRC, MTD, VAT
New VAT rate for hospitality and leisure To help the hospitality and leisure industries recover from the impact of the COVID-19 pandemic and associated lockdowns, a reduced rate of VAT of 5% applied from 15 July 2020 until 30 September 2021. This rate has now come to... 
by Samantha Sutcliffe | Oct 15, 2021 | HMRC, MTD, VAT
Extension of Making Tax Digital for VAT Making Tax Digital (MTD) for VAT is currently only compulsory for VAT-registered businesses whose turnover for VAT is above the VAT registration limit of £85,000. However, this is set to change from April 2022. Extension... 
by Samantha Sutcliffe | Sep 3, 2021 | HMRC, MTD, Tax
HMRC have been consulting on the reform of the basis period rules in preparation for the introduction of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA), which comes into effect from April 2023. A consultation paper was published in July 2021, which sets...