The deadline for businesses with a turnover above the VAT threshold to keep digital records for VAT purposes when Making Tax Digital (MTD) returns, is fast approaching.
From April 2019, businesses with a turnover above the VAT threshold (currently £85,000) will have to:
HMRC has published an updated list of software suppliers that are working to support MTD for VAT. More than 130 software suppliers have been working with HMRC to prepare for the introduction of Making Tax Digital for VAT. Over 35 of these suppliers have said they will have software ready during the first phase of the pilot, in which HMRC is testing the service with small numbers of invited businesses and agents.
HMRC launched this initial private beta pilot of Making Tax Digital for VAT in April 2018, and the pilot is expected to be widened later this year. As things stand, businesses will not be asked to keep digital records, or to update HMRC quarterly, for other taxes until 'at least' 2020.
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1 May 2024 - Due date for corporation tax due for the year ended 30 July 2023. 19 May 2024 - PAYE and NIC deductions
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Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain
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A reminder of the changes to Scottish Income Tax rates for the 2024-25 tax year. It was announced as part of the
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