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Making Tax Digital - Starts 2019...I'm ready, are you ?

Making Tax Digital - An Update and VAT

Posted 21/2/2018

Making Tax digital is coming and those registered for VAT with turnover in excess of £85,000 will see the changes first...

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Self Employed - Class 2 National Insurance

Posted 3/11/2017

The Government announced that changes are being delayed...

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HMRC Issue New Simple Assessments

Posted 10/10/2017

Simple Assessments - Check it if you get one and I'm here to help...

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My Fees - changing to monthly

Posted 10/10/2017

Making Tax Digital is the biggest change to tax and accounting for over a decade. With changes coming to how businesses will have to maintain their records and how often HMRC will require figures to be submitted a fresh approach to how we all work is necessary...

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Making Tax Digital - A Guide for the Self Employed (Updated)

Posted 10/10/2017

Making Tax Digital is coming to ALL businesses over the next few years and you can't avoid it....

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Making Tax Digital - Delayed

Posted 27/9/2017

In July the Government confirmed delays for the Making Tax Digital timetable. The new timeline shows that only businesses with turnover above the VAT threshold (£85,000) will need to keep digital records and will come under MTD in 2019, with other businesses coming under MTD in 2020.

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Major Changes are coming to Self Assessment and Tax Returns

Posted 23/2/2017

HMRC have announced a major overhaul of the Self Assessment system which will involve an end to the Tax Return.

Indeed bot the Tax Return, heaps of paperwork and time-consuming forms could soon be a thing of the past, as HMRC shake up their out-of-date and often confusing processes.

Many small businesses could be using the new tax system as early as 2018 while the changes are likely to be phased in entirely to all by 2020.

So what are the changes that you need to know about?

1. No more annual Tax Returns

There is often a stressful last minute rush to get all your paperwork together and to the Accountant so he or she can get the figures together and file the Tax Return on time to avoid a penalty. With this often comes a last minute shock of what needs to be paid in tax and only a few days to find the money and make the payment.

Of course, not everyone cuts it so fine, with many business owners organised enough to have it settled months in advance.

However, under HMRC’s new proposals, the annual return will be phased out, with Government saying “Everyone can expect a very different experience from the one they receive today — it will be simple, personalised and secure.”

2. HMRC will do a lot of the work

Under the proposed changes the self-employed and those submitting a Tax Return can also forget about having to update information that HMRC should already know such as the likes of pensions, employment or savings.

“HMRC will automatically use the information it holds, along with new data from third parties, to populate the digital accounts,” it is promised in HMRC’s guidance.

HMRC and Companies House will also be working more closely together to make registering a company easier.

3. In the place of Tax Returns comes Quarterly updates

With the move away from annual returns the self-employed and landlords will soon be required to submit quarterly updates BY DIGITAL means.

And although not compulsory to help taxpayers budget you will have the option to pay your tax on a pay as you go basis.

4. It’s time to Go Digital with your accounting records

Most landlords and the self-employed workers will no longer have the option of filing a paper tax return.

Reporting your income and expenditure will now have to be done via an online account using digital software. There are many of my clients who already maintain their records on easy to use bookkeeping software such as QUICKFILE but this could prove problematical for others. Luckily I’m here to help you.

5. Your Online account

All taxpayers will have to have their own online account which will give you an overview of their taxes across multiple liabilities. It’ll be an up-to-date view of their tax position.

You as the taxpayer will be able to let me (agents) manage your account on your behalf (while still being able to see your account), giving the self-employed and landlords an opportunity of removing all the stress of managing your taxes.

With quarterly reporting it will be possible to link the digital accounting software to the new digital account.


So those are the changes and they are coming soon, as early as April next year to many taxpayers. This means that we all need to start preparing now, especially with the move to digital record keeping as there won’t be any alternative.

I can help you with everything you need, from setting up the right package to training how to use it to acting as your agent when it comes to submitting the figures and dealing with HMRC – just as I do now.

I can also maintain your digital records for you making life even easier !


Click HERE to get in touch and see how I can help.

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Digital Accounting and Cloud Software

Posted 31/10/2016

By 2020 most businesses will be required to declare figures to HMRC online...

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Monthly Fees

Posted 23/10/2016

With the impending changes to the way businesses will have to prepare and submit figures to HMRC comes a need to look at different ways of keeping your records...

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The top 10 excuses for not sending in your Tax Return

Posted 15/1/2016

It's only days until the deadline and despite having months to complete it some people have still not completed their 2014/15 Tax Return (if that's you get in touch with me urgently !). If you are late you are liable to an automatic £100 penalty. A penalty you may wish to appeal against with what HMRC call "a reasonable excuse". HMRC have today issued a list of their top 10 worst excuses so just make sure yours is better than these !

  • 1. My tax papers were left in the shed and the rat ate them
  • 2. I’m not a paperwork-orientated person – I always relied on my sister to complete my returns but we have now fallen out
  • 3. My accountant has been ill
  • 4. My dog ate my tax return
  • 5. I will be abroad on deadline day with no internet access so will be unable to file
  • 6. My laptop broke, so did my washing machine
  • 7. My niece had moved in – she made the house so untidy I could not find my log-in details to complete my return online
  • 8. My husband ran over my laptop
  • 9. I had an argument with my wife and went to Italy for 5 years
  • 10. I had a cold which took a long time to go

The excuses were all used in unsuccessful appeals against HMRC penalties for late returns.

The published list comes with a reminder, as the deadline for sending 2014-15 tax returns to HMRC, and paying any tax owed, is 31 January 2016.

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