Facebook - Shropshire Business Twitter - Shropshire Business LinkedIn - Shropshire Business
http://www.pure-telecom.co.uk http://www.portable-offices.co.uk

Taxing times for businesses

By Peter Reynolds

 The UK tax system will soon undergo a fundamental shift which will have huge implications on almost all businesses and landlords. 

From April 2018 all but the smallest of businesses and landlords will have to move into the digital age under HM Revenue and Customs’ ‘Making Tax Digital’ (MTD) programme. 

In short this will involve businesses and landlords keeping their accounting records on software packages and making quarterly uploads to HMRC. Although initially there are no compulsory changes to tax payment dates, this will surely follow. 

MTD is set to apply to all but the smallest of businesses and landlords (currently those with gross incomes under £10,000), and quarterly ‘updates’ will have to be sent to the Revenue direct from the software, as well as the normal annual return. 

It will, unfortunately, represent a significant additional time commitment and cost for virtually everyone. 


More detail: 


Our comments: 

What you need to do: 

Peter Reynolds is based in the Ludlow office of Dyke, Ruscoe & Hayes, where he is a director


Century of success for accountancy firm

Customer service is key to ongoing development and growth

27th November 2019

Keshia keeps deadline in sight

Taxpayers warned time is running out to file returns

17th January 2020

Deadline warning for flood victims

Businesses urged not to ignore tax responsibilities

26th February 2020

Staff Christmas parties could be good news

Celebrations could bring unexpected tax benefits

13th December 2019

Limited window for tax relief claims

Shropshire businesses urged to seize opportunity

19th September 2017

New tax partner is appointed

Experienced inspector joins the team

21st August 2018

Traffic-free plan for Shrewsbury town centre

Covid-19 restrictions revealed

11th June 2020

State of farming to be put under the spotlight

Bridgnorth to host fact-finding event on June 10

4th June 2019

Shropshire Business Podcast

Listen to the latest episode

2nd July 2019

The Autumn Budget - what lies in store?

Shropshire tax expert offers some thoughts

1st November 2017

Karen Whitehead

Director, KEW Accountants and Tax Specialists

19th March 2018

Grand launch for kitchens and bathrooms showroom

Expansion at Bridgnorth builders' merchants is unveiled

15th January 2020

New partner has farming brief over the border

Tom eager to help firms through 'challenging' times

9th April 2019

Accountants raise a toast

Thirsty Thursdays prove a real success

1st October 2019

100% pass rate for accountancy apprentices

Exams success for college students

6th November 2019