Snap General Election called – Accountants react

Accountants and business groups were quick to react to Theresa May’s decision to call a General Election and considered that five different aspects of the economy could be affected. Making Tax Digital The progress towards MTD has already suffered a number of setbacks and tax professionals pointed out that the…

Reporting on payment practices

In a move to ensure that small and medium sized organisations and businesses (SMEs) are treated fairly and paid on time, ‘large companies’ will have to publish a twice-yearly report about their payment practices. The current definition of a large company is one with over 250 employees, £36 million annual…

Corbyn promises to ease MTD Burden

Jeremy Corben, the Labour leader, has joined the various debates about Making Tax Digital (MTD) and said that he would scrap the quarterly reporting for businesses with a turnover of under £83,000. At a recent conference he stated that his reason for abandoning the quarterly reporting is because he considers…

Lords call for delay to MTD

Making Tax Digital for Business (MTD) is a subject of concern for a number of organisations, from tax experts through to the House of Lords Select Committee on Economic Affairs. All agree that MTD is being rushed and its implementation should be delayed until 2020. A Lords Sub-Committee published a…

MTD Apps – do they work?

As part of their preparations for Making Tax Digital (MTD), HMRC has been explaining how small businesses will save time, and therefore money, when they file their tax returns on line. In their consultation document, HMRC used the experiences of ‘Eve the Carpenter’ to detail the benefits of MTD. Eve…

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