The reforms, introduced by HM Revenue and Customs, will require self-employed individuals and property owners with qualifying income above £50,000 to keep digital records and submit quarterly tax updates instead of relying primarily on the traditional annual self-assessment return. The changes are part of the government’s long-running effort to modernise the tax system and reduce
Senior Liberal Democrat and Labour councillors will receive a report updating them on the situation for over 250 self-catering holiday units in Powys that are being transferred over from business rates to council tax, at a meeting of Powys County Council’s cabinet on Tuesday, March 24 This is a consequence of failing to meet the new
Hundreds of thousands of UK sole traders and landlords are being urged to prepare for sweeping tax reporting changes as Making Tax Digital (MTD) for Income Tax becomes mandatory from April 2026. The reforms, introduced by HM Revenue and Customs, will require self-employed individuals and property owners with qualifying income above £50,000 to keep digital
With the new tax year approaching, workers are being urged to check their payslips carefully as changes from HM Revenue & Customs (HMRC) take effect on April 6. Experts say millions of employees may unknowingly be paying the wrong amount of tax due to payroll errors or incorrect tax codes – problems that can quietly
Tice has written to Labour about a company, Labour Party Properties Ltd, that he said had not paid corporation tax since 2000. Labour Party Properties is a company that buys, sells and lets its own or leased real estate, according to the Companies House filing, external, where its accounts are six months overdue. In his
Making Tax Digital for Income Tax is approaching. This practical checklist helps businesses prepare for digital record-keeping, quarterly reporting and choosing the right accounting software. Canva Making Tax Digital for Income Tax (MTD IT) is fast approaching, and while the conversation around it has been ongoing for several years, many businesses and accounting practices are
The Reform deputy leader’s property firm avoided paying nearly £600,000 in tax The Labour Party has called for the tax department, HMRC, to investigate Richard Tice’s tax affairs, after an investigation found his company dodged nearly £600,000 in tax. The Times reported that Tice’s property company Quidnet Reit did not pay any tax on multimillion
The new MTD system requires businesses earning over £50,000 to transition from annual to continuous digital filing (Picture: Getty Images) Whatever business you own, from barbers and bakers to photographers and physios, if you’re self-employed, then changes are about to happen to the way you file your tax return. If you have a turnover of
Jon Williams explains everything dental professionals need to know about tax, particularly when transitioning from NHS to private dentistry. Transitioning from NHS dentistry to private practice is a significant professional milestone. Alongside greater clinical autonomy and income potential, it also brings new financial responsibilities – particularly around tax. For private dentists, the goal isn’t aggressive
Like most taxpayers, you enter tax season with a singular goal — to save as much money as possible. It’s a good goal. But all the ins and outs of the tax code might make you feel like it’s difficult to achieve. It’s not, as long as you have the right moves. Read More: What