Making Tax Digital for VAT takes effect

More than a million VAT-registered businesses have now been mandated into the Government's Making Tax Digital (MTD) programme, which came into force on 1 April 2019. Under the scheme, businesses that are registered for VAT with a turnover of more than £85,000 are...

Residential landlords report higher tax bills

Buy-to-let landlords saw increases to their tax bills in the 2017/18 tax year, suggesting many felt the bite in the first year after changes to mortgage interest relief were introduced. In a survey by Paragon, 58% of landlords said their tax bill for 2017/18 was...

More landlords are changing business structure

Landlords with larger portfolios are increasingly moving to limited company status for new purchases, as restrictions to mortgage interest relief take effect. According to Precise Mortgages, 64% of landlords with more than four properties who plan to buy this year...

Firms told to guard against MTD complacency

VAT-registered businesses in the UK are being urged not to panic with little over a week to go until Making Tax Digital (MTD) comes into force. The warning comes from a joint digitalisation strategy working group that consists of members from the Association of...

Most unpaid tax caused by ‘errors and carelessness’

Carelessness is the most common reason for small businesses and individuals failing to pay the right tax, according to HMRC. A policy paper on tackling tax evasion and avoidance published after Spring Statement 2019 said the introduction of Making Tax Digital (MTD)...