Briefing on the New Tax Year 2020/21
The new tax year began on April 6th. Here’s a round-up of the key changes.
Making Tax Digital For Income Tax
As we prepare for the implementation of Making Tax Digital, it’s useful to know the ins-and-outs of the different stages of this legislation. We recently published an article discussing the first stage of Making Tax Digital – MTD for VAT. Today, we will be covering Making Tax Digital for Income Tax. Although this following stage…
What is MTD-compatible software?
MTD-compatible software is accounting software that is able to integrate with HMRC systems to send regular updates directly to HMRC. While HMRC will not be offering their own software, they are providing the Application Programming Interfaces (APIs) to commercial software developers such as FreeAgent. These accounting software providers are currently using HMRC’s APIs to develop…
Making Tax Digital for VAT
We recently covered the fundamentals of Making Tax Digital (MTD): whom it will affect, when it will come into effect, and the first steps to being MTD-ready. So now it’s time to get into the intricacies of this upcoming legislation. In this article, we’ll be talking about Making Tax Digital for VAT – the first step…
2018 Budget Statement predictions: IR35 and MTD
It has been announced that Chancellor of the Exchequer, Philip Hammond, on Monday 29th October, will present the 2018 Budget Statement. Many were expecting the Autumn Budget to be presented at a later date, but it has been brought forward to avoid clashing with any potential fall-out from the final Brexit negotiations. IR35 For…
Fuss-free finances with FreeAgent
FreeAgent was designed specifically with small businesses and the self-employed in mind, with a wide range of features formulated to simplify the administration of contracting. For the second year running FreeAgent was awarded Small Business Accounting Software of the Year, at the Accounting Excellence awards. It is an excellent cloud-based accounting software that makes updating…