Although the government has delayed its plans for the introduction of Making Tax Digital for ITSA (Income Tax Self-Assessment), Bates Weston urges self employed and landlords to make the move to digital record keeping sooner rather than later.
BW Insight Business Advisory Service uses real time digital business records to provide real time advice to drive business improvements.
How will making Tax Digital for Income Tax – MTD ITSA – affect your business? An explanation of HMRC’s current proposals.
Consultation document proposes moving from a current (accounting) year basis to a tax year basis for reporting tax on self-employed profits.
On 21 July the government published its 10 year strategy for the tax system. This included its plans to extend the Making Tax Digital initiative.