10 min read A notable shift is on the horizon for landlords in the UK as they brace themselves for the impending implementation of Making Tax Digital for Income Tax (MTD IT). It aims to revolutionise how tax reporting is conducted, ultimately affecting millions of taxpayers, with landlords being a significant part of this demographic. […]
Category Archives: MTD ITSA
14
Sep
Sep
The new MTD ITSA guidelines have been complicated for many to grasp fully, even for accountants. To combat this, HMRC has been offering clarifications at intervals and recently hosted a boot camp for landlords and sole traders to answer their questions. For busy landlords, especially those just getting used to the MTD system, we […]
20
Jul
Jul
The UK government is committed to bringing its tax system entirely online through the Making Tax Digital (MTD) initiative. With a phased rollout already underway, it is described by the HMRC as “one of the most digitally advanced tax administrations in the world” that commits to “transform tax administration so that it is easier for […]
02
Jun
Jun
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is set to change the way millions of self-employed business owners and landlords report their earnings to HMRC from 6 April 2024. Any sole trader or a landlord with a total business and/or property income above £10,000 per annum will have to comply with […]
02
Jun
Jun
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) offers self-employed business owners and landlords a new way to report their earnings and pay income tax. MTD ITSA hopes to revolutionise tax administration so it is easier for taxpayers to get their taxes right. Who does MTD for ITSA affect? Anyone who is […]
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