HMRC has confirmed that companies will not have to comply with the requirements of Making Tax Digital (MTD) for corporation tax (CT) purposes. No start date had been set for MTD for CT, under which companies would have been required to maintain digital records; send...
In just over six months the first group of taxpayers will be required to join HMRC’s Making Tax Digital for Income Tax (MTD IT) programme. Some individuals may be able to avoid this by claiming an exemption. Self-employed taxpayers and landlords with qualifying...
From the 2024-25 tax year, self-employed individuals with profits in excess of £6,725 no longer need to pay Class 2 NICs. Instead those taxpayers will receive a National Insurance credit to secure their access to contributory benefits such as the state pension....
If you use Xero for your business accounts, take note – new pricing comes into effect from 1 September 2025. Xero has announced that monthly subscription fees will increase for UK users on their Grow, Comprehensive, and Ultimate plans. The price for Simple and Ignite...
Making Tax Digital for Income Tax (MTD IT) is fast approaching, with the mandation date for sole traders and landlords with qualifying income of £50,000 and above set firmly at 6 April 2026. In addition to the annual tax return, those mandated to comply with the MTD...
HMRC has announced that it will close the online service for filing company accounts and corporation tax returns on 31 March 2026. Companies with an accounting period ending after 31 March 2025 will no longer be able to use HMRC’s free online service (unless...
