Making Tax Digital – what it means for businesses and individuals

Following recent consultation, HMRC is pressing ahead with its Making Tax Digital (‘MTD’) reforms, albeit with a few key elements still to be decided. The new system is designed to convert the vast majority of taxpayers into the online tax world, enabling income and expenses to be reported digitally to HMRC every quarter via new software. MTD is expected to … Read More

Making tax digital – the digital revolution

The Government is committed to reforming the current tax system to bring it into the digital age and has begun various consultations with results expected at the end of this year. Changes are proposed to come into force in 2018, requiring businesses and landlords to record their income and expenses digitally, plus updating HMRC at least quarterly. Digital accounts for … Read More