Making Tax Digital for Income Tax Self Assessment (ITSA)

VAT-registered businesses with a turnover higher than £85,000 are already required to submit their VAT return via the Making Tax Digital scheme, but MTD is an ongoing process which will soon include income tax reported through Self Assessment. From April 2024 self-employed people and landlords earning over £10,000 a year must be compliant for MTD…

What Do I Need for a Company Tax Return?

Corporation Tax is a necessary evil when it comes to running a limited company. To pay the right amount of Corporation Tax, you’ll need accurate financial records so that the information you provide in your company tax return is correct. Who has to file a company tax return? Limited companies must submit a company tax…

Which VAT Scheme Should I Use?

Which VAT Scheme Should I Use?

The VAT accounting scheme that you use can simplify how you work out your VAT, and even enhance your cash flow. Some schemes do have eligibility restrictions, or you might choose a particular scheme to suit your needs. In this article we give an overview of the different types of VAT schemes available, to help…

Accountants, Are You Talking To Your Clients About MTD for Income Tax?

Accountants, Are You Talking To Your Clients About MTD for Income Tax Self Assessment (ITSA)?

Let’s start this with another question. Should you be talking to your clients about Making Tax Digital for Income Tax Self Assessment (ITSA)? Guidance around it is still fairly generic, so it’s difficult to offer clients much in the way of detail. But, the internet is slowly filling with articles rehashing what little is known…