Apr • Diary of Main Tax Events April & May 2018

Apr • Diary of Main Tax Events April & May 2018

April • DIARY Main Tax Events • April & May 2018 1st April: Corporation tax for year to 30/06/17 (unless quarterly payments apply) 5th April: End of 2017/18 Tax Year. 2018/19 tax year starts 06/04/18. 19th April: PAYE & NIC deductions, and CIS return and tax,...
Mar • Want to join the Making Tax Digital VAT pilot?

Mar • Want to join the Making Tax Digital VAT pilot?

March • #04 HMRC have announced that they are looking for suitable businesses to sign up for the pilot testing of the new system of digital reporting of VAT information. Turkeys voting for Christmas springs to mind? After a period of testing the new system is...
Mar • Pension funds can be very effective in estate planning

Mar • Pension funds can be very effective in estate planning

Making Tax Digital (MTD) for VAT is scheduled to start in April 2019 which means that your VAT information needs to be submitted to HMRC digitally.
On 18 December 2017, HMRC published draft legislation together with examples of how the business account records might link with the HMRC computer in order to comply with MTD for VAT. The legislation specifies that “functional compatible software” must be used to record and preserve prescribed VAT related data.