Making Tax Digital (MTD) Archives - Page 5 of 5

Jun 02 2017

Potts & Co Accountants Ltd - Accountancy & Business Advice

Tax reporting is going digital

By admin Making Tax Digital (MTD), Potts & Co Accountancy & Business Advice News

The law to implement the online quarterly reporting of accounts and tax information, known as Making Tax Digital (MTD), was not passed before Parliament was dissolved, but that doesn't mean the project has been scrapped. HMRC is investing a huge amount in the digitisation of the tax system and the…

Mar 27 2017

The digital tax revolution

By admin Budget Update, Making Tax Digital (MTD), Potts & Co Accountancy & Business Advice News

Making Tax Digital (MTD) is coming. Businesses and landlords will be required to submit online a regular summary of income and expenses to HMRC, at least quarterly. The annual tax return will be replaced by a personal digital tax account, which will be updated with information HMRC receives from third…

Mar 10 2017

Revised cash basis

By admin Making Tax Digital (MTD), Potts & Co Accountancy & Business Advice News, VAT

Reporting income and expenses under MTD will be easier for businesses who draw up their accounts using the cash basis. This is a basic form of accounting which suits certain small unincorporated businesses. Currently, in order to use the cash basis you must be a trading business, not a limited…

Mar 09 2017

What we know about MTD

By admin Making Tax Digital (MTD), Potts & Co Accountancy & Business Advice News, VAT

The government is determined to push ahead with Making Tax Digital (MTD), which will require businesses and landlords to use accounting software to make quarterly reports of income and expenses to HMRC. This reporting will apply for accounting periods starting on and after: - 6 April 2018 for businesses &…

Making Tax Digital (MTD)

Tax reporting is going digital

The digital tax revolution

Revised cash basis

What we know about MTD

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