I’ve taken over the family business and our accounting needs modernising – how do I achieve this?
Taking the helm of the family business is an exciting time and an opportunity for you to put your stamp on its operations and future direction.
What should you avoid when transitioning to Making Tax Digital for Income Tax Self-Assessment?
From April 2026, the Government’s Making Tax Digital (MTD) initiative will move to target self-employed individuals and landlords. If you earn over £50,000 a year, you must adopt MTD-compliant software to maintain digital records and provide Income Tax updates. This will extend to those earning over £30,000 from April 2027. These requirements pose significant challenges…
Making Tax Digital – Your questions, answered
Making Tax Digital (MTD) is designed to simplify the tax process for business owners.
How to use the new HMRC app for your tax returns
For small businesses navigating the Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative, tax returns can be complex. The new HM Revenue & Customs (HMRC) app seeks to make the process easier, however. The digital tool marks a significant shift away from traditional, paper-based methods, heralding a new era of streamlined tax processes.…
Staying up to date with MTD for ITSA
In December 2022, the plans for Making Tax Digital for Income Tax Self-Assessment changed again, as the Government announced that instead, MTD ITSA would be introduced in mandatory phases from 6 April 2026, as opposed to 2024.