Aug 30, 2022 | Business Tax
HMRC has published detailed guidance on Making Tax Digital for income tax (MTD for ITSA), which will see the end of self-assessment tax returns. As of 6 April 2024, sole traders and buy-to-let landlords with a qualifying income of £10,000 or more will have to file...
Aug 25, 2022 | Business Tax
HMRC has released a new document that covers the most common errors employers may have made in coronavirus job retention scheme (CJRS) calculations. Commonly referred to as the furlough scheme, any errors made in CRJS calculations must be amended for any claims made...
Aug 23, 2022 | Business TaxPersonal Tax
A working group has been set up to tackle the complexities of cryptoasset tax compliance for accountancy firms in the UK. The Chartered Institute of Taxation (CIOT) and the Association of Taxation Technicians (ATT) aim to clarify uncertain accounting rules for...
Aug 22, 2022 | Business Tax
HMRC has announced that penalties will be issued to those not completing VAT returns through Making Tax Digital (MTD) from 1 November 2022. Anyone who files a VAT return through non-electric submission will face penalties of up to £400. The Association of Chartered...
Aug 18, 2022 | Business Tax
The film and creative industries continue to benefit from generous tax breaks, having claimed over £1 billion in the tax year ending March 2022, according to data from HMRC. In the 2021/22 tax year, creative industry tax reliefs for corporation tax totalled £1.05bn,...
