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MTD Bookkeeping for Landlords and Sole Traders: Practical Examples

MTD Bookkeeping for Landlords and Sole Traders: Practical Examples

Written by Audrey Jurkoniene | Founder and Director of Business Help UK Group Making Tax Digital for Income Tax means keeping digital records and sending updates through compatible software. For landlords and sole traders doing their own bookkeeping, an important...
What Happens at the End of the Tax Year Under Making Tax Digital?

What Happens at the End of the Tax Year Under Making Tax Digital?

If you are asking about making tax digital year end, the short answer is this: the end of the tax year does not replace your final tax filing duties. Under HMRC’s current guidance for Making Tax Digital for Income Tax, quarterly updates are not your final tax...
Do You Need an Accountant or Bookkeeper for Making Tax Digital?

Do You Need an Accountant or Bookkeeper for Making Tax Digital?

If you are wondering whether you need a making tax digital accountant or bookkeeper, the short answer is no, not everyone will. But for many sole traders, landlords and small business owners, getting the right support can make Making Tax Digital much easier, reduce...
Making Tax Digital Penalties: What Should Businesses Check?

Making Tax Digital Penalties: What Should Businesses Check?

Making tax digital penalties are not something to leave until the last minute. If you are affected by Making Tax Digital for Income Tax, the key checks are whether you are actually within scope now, which obligations trigger the newer penalty rules, which earlier...
Common Making Tax Digital Mistakes and How to Avoid Them

Common Making Tax Digital Mistakes and How to Avoid Them

Making Tax Digital does not usually go wrong because of one dramatic filing error. In practice, the biggest problems tend to start earlier: misunderstanding who is affected, waiting too long to set up software, keeping poor digital records or assuming HMRC’s new...