New Forest

14/07/2017

Digital Accounting Update

The way you pay your tax return will soon change under Making Tax Digital (MTD), which requires businesses, self-employed people and landlords to use digital accounting software to update HMRC on a quarterly basis.

MTD is due to be phased in from April 2018, although businesses with an annual turnover below the VAT threshold (£85,000 in 2017/18) are exempt until April 2019.

If your annual turnover is less than £10,000 you will not need to make quarterly updates.

It would be best to get in touch with an accountant to discuss how MTD may impact your reporting obligations.

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The buy-to-let market has seen a number of new tax changes implemented over the last few years, but are they starting to have a negative effect on the industry? https://t.co/K1K6Plj8xH

Thank you to Sue and the team at the @mayflower for inviting us to the opening performance of Saturday Night Fever!

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