Around 40,000 businesses are now exempt from reporting requirements as the Prime Minister unveils a new plan to boost productivity. Liz Truss has announced that thousands of the UK’s fastest-growing businesses will be released from existing requirements and other regulations. Currently, small businesses are presumed to be exempt from certain regulations. However, many medium-sized businesses…
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Are you ready for MTD? Deadline is approaching
Time is fast running out for VAT-registered businesses to be ready for Making Tax Digital filing. From the start of next month, organisations will no longer be able to submit VAT returns through their existing online account. By law, all VAT-registered businesses must sign up to Making Tax Digital (MTD) and use compatible software to…
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Tax returns – have you told HMRC your plans?
Anyone planning to complete a tax return for 2021-22 must notify HM Revenue and Customs (HMRC) by Wednesday. Before customers can complete their first tax return, they need to register with HMRC to receive their Unique Taxpayer Reference (UTR) which they need to file a return. The tax return deadline for the 2021 to 2022…
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Tax Diary October/November 2022
1 October 2022 - Due date for Corporation Tax due for the year ended 31 December 2021. 19 October 2022 - PAYE and NIC deductions due for month ended 5 October 2022. (If you pay your tax electronically the due date is 22 October 2022.) 19 October 2022 - Filing deadline for the CIS300 monthly…
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