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Making Tax Digital for Vat is live, so what now?

The general position is that businesses need to sign up in time to submit their first return that is due under MTD. This should be after they have submitted their final return using the old system as once they have signed up to MTD they will no longer be able to file returns using the old method. For most businesses the first return affected by MTD is the one that starts on/after 1 April 2019. So although MTD went live in April, the first quarterly MTD for VAT filings are due from 1 July 2019. In the first year of mandatory reporting, HMRC has confirmed that it will take a soft penalty approach and importantly companies will be able use a 'cut and paste' approach during the one-year soft l

HMRC are coming for private sector contractors

There has been a recent increase of interest by HMRC into the employment status of those under IR35. IR35 is a highly contentious area of dispute and with the changes due to expand the Public Sector rules into the Private Sector for large and medium-sized businesses, in April 2020, now is a good time to review your compliance of the IR35 legislation. If you have any questions please contact us either by phone 02920 860140 or via email: enquiries@accountingperspectives.co.uk
Tel: 02920-860140
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