Tag: MTD

Making Tax Digital Update

Written by Tony Shackleford on August 14, 2024.

Under the Making Tax Digital (MTD) rules, certain ‘businesses’ will be required to record business transactions on software and submit quarterly returns of financial data to HMRC. Currenbtly...

Jointly owned property, Making Tax digital, MTD, mtd and rental income, MTD Jointly Owned Property

Making Tax Digital Update

Written by Tony Shackleford on January 5, 2024.

VAT registered businesses are currently caught by the Making Tax Digital (MTD) regime. The current plan is for the self employed or those having gross rental income of more than £50,000 per year to...

Making Tax digital, MTD

Making Tax Digital For Income Tax Delayed

Written by Tony Shackleford on January 6, 2023.

The government announced that Making Tax Digital (MTD) for income tax is to be delayed from April 2024 until April 2026. MTD requires the self employed and landlords to maintain accounting records digitally...

Making Tax digital, MTD

Making Tax Digital – An Overview Of Where We Are

Written by Tony Shackleford on September 22, 2022.

Making Tax Digital (MTD) requires those businesses caught by the MTD rules to record their business transactions on compliant software and to submit quarterly returns to HMRC direct from the software. In...

income tax, Making Tax digital, Making tax digital for income tax, MTD

MTD VAT Extra Tax

Written by Tony Shackleford on March 22, 2022.

HMRC has rcently announced that an estimated additional tax of £195 million has been collected following the introduction of Making Tax Digital. HMRC stated that the additional tax resulted from a reduction...

Making Tax digital, MTD

Making Tax Digital (MTD) For Income Tax

Written by Tony Shackleford on November 3, 2021.

The government has recently published further guidance on the implementation of MTD for Income Tax, which is due to come into effect on 1 April 2021. All self employed and landlords having gross income...

MTD, MTD for Income Tax, MTD transitional year

Making Tax Digital (MTD) Update

Written by Tony Shackleford on October 1, 2021.

In a recent government announcement, the implementation of MTD for income tax (which includes residential landlords) has been delayed until April 2024. The current timing of the MTD rollout is as follows MTD...

MTD, MTD Income tax

Making Tax Digital Rollout

Written by Tony Shackleford on February 12, 2021.

Making Tax Digital (MTD) is the governments plan for ensuring that businesses record their transactions digitally and submit quarterly information to HMRC. The long term goal of the government is to ...

Making Tax digital, MTD, MTD for Corporation tax, MTD for Income Tax

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Tag: MTD