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MTD For Income Tax

MTD for Income Tax – your questions answered

Whilst MTD for Income Tax is not due to come into force until 2024, many questions are being asked already by those getting prepared for the changes now. Below are our answers to some key questions. If you don’t find…

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Tax Return Relating To Overclaimed SEISS Grants

HMRC starts to assess overclaimed SEISS grants

Overclaimed SEISS grants are now being contacted by HMRC. Following an amendment to self-assessment tax returns made after 2nd March 2021, taxpayers are now being contacted by HMRC where it has been identified they need to repay all or part…

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Making Tax Digital For VAT Registered Businesses

Making Tax Digital for VAT registered businesses

Making Tax Digital for VAT registered businesses for businesses above the VAT threshold of £85,000 has been compulsory since 2019. However, from April 2022, all VAT registered businesses must comply with Making Tax Digital (MTD) and submit returns using MTD…

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The Words 'delayed' Repeated On A Sign To Signify The Delay To Making Tax Digital

Delay to Making Tax Digital for Income Tax

Delay to Making Tax Digital announce by the Government As part of the rollout of greater digitalisation of our tax regime businesses with turnover in excess of £10,000 were due to be caught under the new rules from April 2023…

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Womans Hand On Calculator Depicting How To Include The SEISS Grant On A Tax Return

How to include the SEISS grant on your tax return

Many business owners are now asking the question of how to include the SEISS grant on their tax return. By now many business owners have realised that the Self Employed Income Support Scheme payments (SEISS) are fully taxable and need…

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Piggy Bank With Face Mask Depicting New Guidance For SEISS Grant 5

New Turnover test for SEISS 5

HMRC have a new turnover test for SEISS 5. They have now published their full guidance on the eligibility criteria to receive the 5th instalment of the Self Employed Income Support Scheme (SEISS). Most of the eligibility remains unchanged from…

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