The government's shake-up of the tax system - Making Tax Digital - will impact on all businesses; including startups. This major change to the way taxes are reported and administered means any business start-ups need to ensure compliance from the launch date. If you've never even...
Any existing VAT-registered business or UK startup planning to register for VAT needs to be fully aware of the new Making Tax Digital requirements and what this means for their business. 1 April 2019 was the deadline for digital VAT returns compliance. Although HMRC has indicated...
Planning for VAT can be difficult for any business. This is a complex tax which is currently being revolutionised due to the UK government's Making Tax Digital initiative. It's quite possible for business organisations to under or overpays VAT, and this can cause problems. Any startup anticipating...
In light of upcoming changes to the revenue process, businesses are facing more regulation than ever. While tax rates will continue to change, there are also practical considerations for companies when it comes to submitting their accounts to HMRC. With many businesses now required to...
HM Revenue and Customs (HMRC) has admitted that the UK’s freelance and self-employed community are likely to have to fork out an extra £280 a year on their tax reporting costs in order to keep up with their impending quarterly digital reporting regime. As part of...
The faces in the Government might have changed but Making Tax Digital, one of former Chancellor George Osborne’s flagship policies, shows no signs of being derailed. It’s been described as the biggest shake-up in tax reporting since online tax returns were first introduced, but what...