Making Tax Digital has been pushed back to 2019, and even then it’s only relevant to certain companies, however HMRC has snuck another one of their wild hair-brained schemes under our noses, Dynamic Coding. On the 2nd of July 2017, HMRC launched its new system called ‘Dynamic Coding’, also known as ‘PAYE Refresh’. This time,… Read More

Registering for VAT has always been something of a confusing matter to many business owners; some businesses have to register for it, whereas other business aren’t forced to but will register for VAT regardless. Registering for VAT is actually quite simple, as are the rules involved; the difficult part is deciding whether you should register… Read More

Rewind the clocks back to December 2015; David Bowie was still alive (just), David Cameron was still the Prime Minister (just), and Making Tax Digital had (just) been announced. Everything was going so well up until that moment, but the second Making Tax Digital was announced, it was met with scepticism and doubt. Move on… Read More

The last we heard of Making Tax Digital was that it had been shelved with plans to be reopened in April 2018. Well we finally have some more news on the subject and it looks like some bright-spark has actually had a good idea on the topic. Mel Stride, the Financial Secretary to the Treasury… Read More

Just before the recent election, Making Tax Digital was promptly shoved in a box and hidden under the rug with a note reading ‘To be opened April 2018’. Since then, it has tactically been ignored by every MP and not a single mention of it has yet been made in the Houses of Parliament. Instead,… Read More

In our previous post about Making Tax Digital (MTD), we spoke about how we had achieved slight success and the MTD scheme had been put off until next April. This is still the case, however it’s a bit more transparent now that the reason it was put off was because of the snap election called… Read More

The government’s controversial Making Tax Digital scheme looks to be delayed by at least a year after it was left out of the new Finance Bill. Making Tax Digital had been one of the most controversial parts of the Finance Bill which was slowly working its way through parliament. Committees in both the House of… Read More

The government’s new Making Tax Digital scheme gets rid of the annual tax return and replaces it with 4 quarterly tax updates. So you would think that means doing 4 tax returns a year. As more details about Making Tax Digital are released people are beginning to think that the real number could be higher.… Read More

There have been more calls for the government to delay Making Tax Digital. Most accountancy and small business organisations, Landlord’s associations, the National Union of Farmers and online accountancy companies like Zooconomics are already against Making Tax Digital. The latest group to ask the government to delay Making Tax Digital are the House of Lords… Read More

Currently if you miss a tax return you can get a fine from HMRC. Missing your filing deadline for your Corporation Tax or Self Assessment normally gets you a £100 fine. The longer it takes you to get your tax return done the higher the fines go and you can easily rack up fines and… Read More