In 2015 UK Government had a vision for the “end of the tax return” and a “transformed tax system” by 2020. HMRC states that it’s main goal of MTD is to make tax administration more effective. HMRC’s Tax Gap figures suggest that £8billion of the tax lost per year as a result of avoidable taxpayer [...]
Ok, that’s not quite what we mean, but essentially the message is the same! If you’re still spending vast amounts of time entering your expenses into a formulated spreadsheet, then it’s time for you to stop and read this. Ask yourself these two quick questions; 1, how long do you spend [...]
What are the timelines for the MTD (Making Tax Digital) roll-out April 2019- Who does this affect? VAT registered businesses with turnover above the VAT threshold, currently £85,000 (net of VAT). MTD does not apply to voluntarily registered VAT businesses (below the threshold), however, you can apply to voluntarily join the [...]
First introduced by the government in 2015, the Making Tax Digital (MTD) initiative is meant to improve the efficiency of the UK tax system. According to the latest tax gap figures, most customers want to get their tax right, but many find the system difficult to navigate. It is estimated that [...]
