Making Tax Digital
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HELP WITH ‘MAKING TAX DIGITAL'
Most businesses are having to change how they keep records and send tax information to HMRC under the new Making Tax Digital (MTD) process.
The first stage of MTD applied to VAT-registered businesses, and we have successfully helped all our Clients to meet any new MTD VAT returns obligations.
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) becomes mandatory for certain self-employed individuals and property landlords from 6 April 2026 and if this includes you we’ll recommend your best options to prepare for this.
MTD for Income Tax for Partnerships and Limited Companies are also planned, and we’ll keep you informed of developments, as necessary.
From 6 April 2023 the ‘basis period’ rules changed for self-employed individuals who have an accounting date other than 31 March or 5 April. If you are self-employed we’ll advise you of the implications and the options available to you.
Please contact Alan Orchard on 07802 203166 for help with Making Tax Digital.
Corporation tax
Corporation Tax rates and reliefs are reviewed annually, and we provide strategic guidance and advice on any exemptions, allowances and deductions that are currently available to you.
We’ll prepare detailed Corporation Tax returns to ensure you are complaint and avoid incurring penalties.
Self assessment
We simplify the Self-Assessment tax process for individuals using our accountancy software that ensures your returns are fully and accurately completed. It will calculate your tax liability and any payments required, overseen by us to make sure the calculations take into account all applicable exemptions and deductions.
Capital gains tax
If you have investments, a second property or other assets, we’ll help you to maximise any relevant exemptions and successfully navigate the complexities of Capital Gains Tax.
Personal tax planning
We work with you to create a tax planning strategy that precisely matches your tax situation, so you’ll always pay just what is required. We’ll let you know when payments are due, helping you to follow the necessary steps and complete and return any forms required to keep you compliant at all times.
Please contact Alan Orchard on 07802 203166 to discuss all your taxation-related requirements.