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digital

MAKING TAX DIGITAL EXTENDED

HMRC’s flagship Making Tax Digital online quarterly reporting is being significantly extended with legislation proposed in the Finance Bill 2020-21 bringing all VAT registered businesses into the system from April 2022 and extending it to include income tax self assessment from April 2023. 

MAKING TAX DIGITAL EXTENDED

HMRC’s flagship Making Tax Digital online quarterly reporting is being significantly extended with legislation proposed in the Finance Bill 2020-21 bringing all VAT registered businesses into the system from April 2022 and extending it to include income tax self assessment from April 2023. 

Internet giants face tax-hike

It has been confirmed that from April 2020, the government will introduce a new 2% Digital Services Tax (DST) on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users.  

Making Tax Digital: Are you aware of the changes to the Government Gateway?

Making Tax Digital is fast approaching; therefore it is important for mandated businesses with taxable turnover of £85,000+ start preparing for the switch over in April 2019.   The first VAT period affected is the period which begins after 1 April 2019.

Making Tax Digital: Are you aware of the changes to the Government Gateway?

Making Tax Digital is fast approaching; therefore it is important for mandated businesses with taxable turnover of £85,000+ start preparing for the switch over in April 2019.   The first VAT period affected is the period which begins after 1 April 2019.

Making Tax Digital Update: HMRC Letters

HMRC have been writing to VAT registered businesses about Making Tax Digital for VAT, they have confirmed that all letters have now been sent.

Would a digital services tax do more bad than good?

In the autumn budget, Chancellor of the Exchequer, Philip Hammond proposed the UK implement a ‘digital services tax’ on sales by technology giants. 

8 reasons why your business should invest in cloud accounting

What is cloud accounting? Cloud accounting uses software that is hosted on remote servers rather than on a company’s own servers. Data is sent to and stored in "the cloud," where it is processed and returned to the user - all application functions are performed off-site and not on the user's desktop.

8 reasons why your business should invest in cloud accounting

What is cloud accounting? Cloud accounting uses software that is hosted on remote servers rather than on a company’s own servers. Data is sent to and stored in "the cloud," where it is processed and returned to the user - all application functions are performed off-site and not on the user's desktop.

Would a digital services tax do more bad than good?

In the autumn budget, Chancellor of the Exchequer, Philip Hammond proposed the UK implement a ‘digital services tax’ on sales by technology giants. 

Would a digital services tax do more bad than good?

In the autumn budget, Chancellor of the Exchequer, Philip Hammond proposed the UK implement a ‘digital services tax’ on sales by technology giants. 

HMRC delays MTD for businesses below the VAT threshold

It has been announced by HMRC’s Making Tax Digital (MTD) team that plans still remain in place for VAT registered businesses, but the wider extension of the MTD programme for non-VAT registered businesses will be delayed, due to Brexit and the Government resources being stretched.

HMRC delays MTD for businesses below the VAT threshold

It has been announced by HMRC’s Making Tax Digital (MTD) team that plans still remain in place for VAT registered businesses, but the wider extension of the MTD programme for non-VAT registered businesses will be delayed, due to Brexit and the Government resources being stretched.

Making Tax Digital timeline

You will be aware that HMRC is moving forward with their digitisation of taxpayer VAT and Income Tax reporting requirements, under their much publicised Making Tax Digital (MTD) initiative. Below you will find the most recent announcements made by HMRC on this issue.  

Making Tax Digital timeline

You will be aware that HMRC is moving forward with their digitisation of taxpayer VAT and Income Tax reporting requirements, under their much publicised Making Tax Digital (MTD) initiative. Below you will find the most recent announcements made by HMRC on this issue.  

Making Tax Digital for VAT: how Moore can help you prepare

From April 2019, VAT registered businesses with turnover above the VAT threshold (currently £85,000) will have to:

Making Tax Digital for VAT: how Moore can help you prepare

From April 2019, VAT registered businesses with turnover above the VAT threshold (currently £85,000) will have to:

Possible changes to tax rules for companies

There is a government department, the Office for Tax Simplification (OTS), that has been charged with investigating ways that the UK’s tax rules can be changed to make them easier to understand and easier to use.

Possible changes to tax rules for companies

There is a government department, the Office for Tax Simplification (OTS), that has been charged with investigating ways that the UK’s tax rules can be changed to make them easier to understand and easier to use.

Government extends the deadline for digital tax returns and exempts small businesses from the plans

Small firms will be experiencing a sense of relief this morning, as changes are announced to the controversial and revolutionary new digital tax system.

Government extends the deadline for digital tax returns and exempts small businesses from the plans

Small firms will be experiencing a sense of relief this morning, as changes are announced to the controversial and revolutionary new digital tax system.

Sage and Cashplus join forces, to ease the pressure of Making Tax Digital for small businesses

Sage and Cashplus have announced that they have joined forces in order to support small businesses in getting ahead of the making tax digital legislation.

Sage and Cashplus join forces, to ease the pressure of Making Tax Digital for small businesses

Sage and Cashplus have announced that they have joined forces in order to support small businesses in getting ahead of the making tax digital legislation.

Making tax digital

The current tax year, 2017-18, is the last year we have to prepare for the advent of the new reporting system, Making Tax Digital for Business (MTDfB). Following the recent budget, it is now clear which businesses are going to be affected and when. Dates for implementation will be:

Making tax digital

The current tax year, 2017-18, is the last year we have to prepare for the advent of the new reporting system, Making Tax Digital for Business (MTDfB). Following the recent budget, it is now clear which businesses are going to be affected and when. Dates for implementation will be:

Will Britain be the best place to start and grow a business?

Making Tax Digital (MTD) for business? Q. Who will benefit from the deferral on MTD?A. If you are under the current VAT threshold of £83,000 the deferral until April 2019 will give sole traders, small unincoroprated businesses and landlords, a further year to prepare.

Will Britain be the best place to start and grow a business?

Making Tax Digital (MTD) for business? Q. Who will benefit from the deferral on MTD?A. If you are under the current VAT threshold of £83,000 the deferral until April 2019 will give sole traders, small unincoroprated businesses and landlords, a further year to prepare.

Making tax digital to be delayed?

  The Treasury Select Committee has reviewed the proposals for the introduction of “Making tax digital” (MTD) and have agreed with the various professional bodies that if the new systems are introduced too quickly there could be a disaster.

Making tax digital to be delayed?

  The Treasury Select Committee has reviewed the proposals for the introduction of “Making tax digital” (MTD) and have agreed with the various professional bodies that if the new systems are introduced too quickly there could be a disaster.

New Government Savings Scheme Starts in April 2017

From April 2017,adults under the age of 40 will be able to open a Lifetime ISA (LISA) and pay in up to £4,000 each tax year. They will be able to continue making contributions up to the age of 50. The government will add a 25% bonus to these contributions. This means that individuals who save the maximum will receive a £1,000 bonus each year from the Government.  

New Government Savings Scheme Starts in April 2017

From April 2017,adults under the age of 40 will be able to open a Lifetime ISA (LISA) and pay in up to £4,000 each tax year. They will be able to continue making contributions up to the age of 50. The government will add a 25% bonus to these contributions. This means that individuals who save the maximum will receive a £1,000 bonus each year from the Government.  

Making Tax Digital - Proposed changes to the tax system

On 15 August 2016 HMRC published six consultation documents, together with a summary document, under the Making Tax Digital (MTD) initiative. In HMRC’s own words, the overall objectives of MTD are for the tax system to become ‘more effective, more efficient and easier for taxpayers’.

Making Tax Digital - Proposed changes to the tax system

On 15 August 2016 HMRC published six consultation documents, together with a summary document, under the Making Tax Digital (MTD) initiative. In HMRC’s own words, the overall objectives of MTD are for the tax system to become ‘more effective, more efficient and easier for taxpayers’.

Making tax digital - too soon?

George Osborne announced the introduction of digital tax accounts in his 2015 Budget, with more information being sent online to HM Revenue and Customs (HRMC) by employers, pension funds, banks and other institutions. This information will  then be used to calculate individuals' tax liabilities which may be viewed by them online. All this sounds great in theory, but many accountants expressed concerns about the reliability of this data.

Making tax digital - too soon?

George Osborne announced the introduction of digital tax accounts in his 2015 Budget, with more information being sent online to HM Revenue and Customs (HRMC) by employers, pension funds, banks and other institutions. This information will  then be used to calculate individuals' tax liabilities which may be viewed by them online. All this sounds great in theory, but many accountants expressed concerns about the reliability of this data.