People urged to prepare for HMRC income tax change next month
People urged to prepare for HMRC income tax change next month
2 months ago
dailyrecord.co.uk
Making Tax Digital Is Coming April 2026! Are You Ready For Quarterly HMRC Reporting? | Baxterworld Ltd
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Self employed and earn over £50k? A new way to do your Income Tax returns is coming. | HMRC
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HM Revenue and Customs has started testing Making Tax Digital for Business ahead of its launch next year -but what is Making Tax Digital and how will it affect you and your business? | TaxAssist Accountants
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Making Tax Digital is one of the biggest tax changes HMRC has ever rolled out, and it is already changing the way individuals and businesses deal with their tax return and self assessment. At its core, Making Tax Digital is HMRC’s plan to modernise the UK tax system by replacing paper forms and outdated processes with digital record keeping and online submissions. If you run a business, are self employed, or even a landlord, these rules directly affect the way you keep records and file to HMRC.
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The Making Tax Digital countdown is on - in just over 4 months, sole traders and landlords with turnover above £50,000 will need to: ✔ Keep digital records using recognised software ✔ Send quarterly updates ✔ Submit their annual tax return by 31 January Don’t leave it to the last minute – check what’s changing and how to get ready: https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd | HMRC
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Get your business ready for HMRC's digital VAT changes with the worlds #1 accounting software | Intuit QuickBooks
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