Thousands of businesses struggling to get to grips with MTD

According to the latest industry research, thousands of businesses are struggling to get to grips with Making Tax Digital (MTD).

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Half of all SMEs make VAT return mistakes

Half of all small-medium sized enterprises (SMEs) make errors when filing their VAT returns, according to the latest research.

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HMRC publishes Making Tax Digital ‘Mythbusters’ helpsheet

HM Revenue & Customs (HMRC) has published a Making Tax Digital (MTD) ‘Mythbusters’ helpsheet to clarify the current situation regarding businesses and MTD.

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Making Tax Digital – important updates

The VAT notice for Making Tax Digital (MTD) has been updated, relaxing the rules to help clients.

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Is your business compliant with the Making Tax Digital rules?

According to new research, thousands of UK businesses could find themselves under scrutiny from HM Revenue & Customs (HMRC) for failing to follow new rules on keeping digital records.

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UK ‘tax gap’ at record low, figures reveal

The tax gap – the difference between the amount of tax that should be paid and what is actually paid – has shrunk to just 5.6 per cent.

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Next Steps for Making Tax Digital

Making Tax Digital (MTD) was launched in April 2019 for VAT. Now, hundreds of thousands of VAT-registered businesses who are above the VAT threshold of £85,000 are recording and reporting their accounts digitally to HM Revenue & Customs (HMRC).

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Making tax digital is live today, yet one million businesses are not registered

As of today, UK based businesses that have a taxable turnover above the VAT threshold of £85,000 will be required to switch to the new digital tax service to report earnings and calculate VAT owed.

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HMRC reveals MTD registration takes seven working days

HM Revenue & Customs (HMRC) has warned that registration for Making Tax Digital (MTD) for VAT will take up to seven days to complete and will not be a real-time service.

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Should HMRC delay Making Tax Digital for VAT?

The Lords Economic Affairs Committee says the Government need to listen to small businesses and delay the rollout of Making Tax Digital for VAT programme by at least a year. Recently, the House of Lords’ Economic Affairs Committee has called

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