Making Tax Digital, or MTD as it’s now well known, is finally here and businesses should act soon to ensure they are fully compliant.
The majority of UK businesses are required to be MTD-compliant by 1 April 2019. Here we explain a bit more about the penalties you may face if you are not compliant in time, and if you then miss payments.
No matter how small your business, you will benefit from going digital with your accounting, rather than relying on paper and spreadsheets.
Making Tax Digital (MTD) may seem like an obstacle right now, but it’s being introduced as a way of eradicating the dreaded tax return. Going digital means using cloud accounting software, and in a world driven by digital, MTD actually seems to be late to the party.
Making Tax Digital (MTD) is being gradually rolled out by the government over the next couple of years, meaning that different businesses will be affected at different times. The first deadline, ‘Making Tax Digital for VAT’, is coming up at the end of March 2019.
Have you been avoiding Brexit news? Tired of the confusing headlines and constantly changing dynamics in parliament? As Brexit continues to dominate the news, it can be difficult to keep up. But with just over 70 days left, a no-deal Brexit is still the default position for the UK if MPs can’t agree on an alternative.
Yesterday Chancellor of the Exchequer, Philip Hammond, presented the Autumn Budget for 2018. In this blog we’ve pulled out the key details affecting your business and personal accounting, including changes to Income Tax, the National Living Wage / Minimum Wage, private sector IR35, support for high street businesses, capping of R&D tax relief, entrepreneurs’ relief, and pensions.
The Government have recently announced a consultation on extending the practices introduced last year regarding IR35 in the public sector to the private sector.
Since 2012, the government has been rolling out the compulsory auto-enrolment pension scheme, ensuring all employers provide a pension scheme for their employees. Today all companies are contributing to employee pensions, but has the recent doubling of pension contributions hit your company’s bottom line?
The Government is making changes to the way landlords pay tax, which for some will mean they’re looking to leave the landlording behind. But if you play your cards right, you can run your rental property business the right way and still be successful.
The Chancellor’s first ever ‘paired-back’ Spring Statement was made in Parliament today. We’ve stripped out the information that small businesses need to know, but we’ve also included a link so you can watch the whole thing back online at your leisure.