1 in 4 workers are now self-employed and the government doesn’t like it. They have been trying to introduce measures to discourage self-employed people over the last couple of years. Some of these, like the national insurance rise announced in the budget, they have had to U-turn on. Other measures, such as Making Tax Digital… 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

The government’s new Making Tax Digital scheme will mean that all businesses and self-employed people will move from doing 1 tax return doing to 4 tax returns a year. Making Tax Digital is going to be phased in between 2018 and 2020. It will start with small businesses and by 2020 all self-employed people, freelancers,… Read More

The Chancellor Philip Hammond’s nickname is ‘Spreadsheet Phil’ due to his love of analysing numbers. With the introduction of Making Tax Digital in 2018/2019 Spreadsheet Phil could have an extra 16 million spreadsheets a year to look at. When Making Tax Digital is introduced all self-employed people, businesses and landlords will have to send 4 ‘tax… Read More

Can we get Philip to u-turn on Making Tax Digital? The Chancellor, Philip Hammond, has been forced to do a u-turn on his proposals to increase National Insurance for self-employed people contributions by 2%. His plan would have cost an average self-employed person £240 a year and were seen as an unfair tax on hard… Read More

When Making Tax Digital is introduced in April 2019 small businesses will move from having to do one tax return a year to four ‘tax updates’. The government argues that this will save small businesses time and money. However, their estimate of how much Making Tax Digital will cost small businesses is massively different from… Read More

  Making Tax Digital is a new system for doing tax returns being introduced by the UK government in April 2018. The government say that Making Tax Digital will be easier and more efficient for small businesses and that it will raise more tax revenue. The main features of Making Tax Digital are: All businesses… Read More