The current situation with Making Tax Digital for Income Tax Self-Assessment – MTD ITSA, and what may happen next.
What is next for MTD ITSA?
read more
landlords
landlords
Making Tax Digital for Income Tax Self-Assessment
HMRC has widened the pilot and simplified the quarterly requirements of Making Tax Digital for Income Tax Self-Assessment or MTD for ITSA for taxpayers with gross income from self-employment between £10,000 and the £85,000 VAT threshold, but many are concerned that the trial is too limited, the timescale too tight and the detail too brief to mean taxpayers will be ready for the April 2024 deadline.
HMRC delays Making Tax Digital for ITSA
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.
Looking to grow? Take the next step
From compliance to growth, our accounting firm in Derby has you covered. Call us to see how we can help.