Making Tax Digital (MTD) is a fundamental change to the administration of the UK tax system. It will affect how businesses and other organisations; agents and individuals maintain their accounting and tax records and how they transact and communicate with HMRC.
Lucinda Davenport of Crowthers Chartered Accountants explains how businesses owners and individuals can prepare for the upcoming digital revolution of tax. In July 2017 the government announced a new initiative called Making Tax Digital, with the aim of modernising and
Domestic Items Relief replaces “Wear & Tear Allowance” from 6 April 2016 and the new rules are very different! If you let out residential property (a dwelling house) you may be able to claim a deduction for the cost of
The farming team have been busy providing an insight into Accountancy for Young Farmers over the last couple of weeks. Sophie and Lucinda presented ‘Getting the Most from Your Accountant’ for the Tesco Future Farmer Foundation in Hereford. The
On 31 January 2017, HMRC published the outcome of the consultation on bringing business tax into the digital age. Making Tax Digital (MTD) will mean digital record-keeping and making quarterly updates for most self-employed individuals and businesses, followed by year-end