Common FAQ’s about Making Tax Digital

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Making Tax Digital – What does it mean for your business? If you are VAT registered then you will need to start to keep a digital record  (i.e. use software to record all your VAT invoices and receipts). If you are not VAT registered then digital record keeping is optional. If you are VAT registered and do not currently use … Read More

Making Tax Digital – More Information

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Making Tax Digital Making Tax Digital is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their accounts. HMRC’s plan is to become one of the most digitally advanced tax administrations in the world. MTD is making fundamental changes to the way the tax … Read More

NEW advisory fuel rates from December

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New advisory fuel rates from December HMRC has released its latest advisory fuel rates (AFRs), to come into force from December 1. There are no changes to the rates for petrol cars, but the rate for diesel cars, with an engine above 2,000cc, increases by 1p per mile (ppm), from 13-14ppm. All other diesel rates remain unchanged. There is also … Read More

HMRC send out making tax digital letters

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Have you received a letter from HMRC about Making Tax Digital? If so, you’re not alone. About 200,000 HMRC Making Tax Digital letters have been issued to businesses to let them know about the new service and how VAT record keeping and the way that VAT returns are submitted will change from April 2019. HMRC has sent the first 20,000 … Read More

Making Tax Digital-Are you ready?

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Making Tax Digital – Are you ready? With the ever looming deadline approaching, 1 April 2019, VAT-registered businesses in the UK will need to submit their VAT returns using “functional compatible software”, as part of HMRC’s Making Tax Digital (MTD) plans. One thing to remember is that from April 2019, if your VAT turnover is above the VAT threshold (currently … Read More

The 4 Foundations of Making Tax Digital

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The 4 Foundations of Making Tax Digital Making Tax Digital for individuals The Personal Tax Account brings together each customer’s information into one place online. It allows customers to access the service from a digital device of their choice and a time that suits them. It enables them to register for new services, update their information and see how much … Read More

Making tax digital – Your journey

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Making Tax Digital Making tax digital is HMRC’s way to digitise tax. Therefore, from April 2019 businesses with a turnover above £85k must submit VAT returns through the HMRC gateway. Businesses would do this using commercial accounting software like Sage. 89% of UK business will consequently change the way that they process their tax. If you’re going to be impacted … Read More