Are you ready to make tax digital? Most Cornish businesses aren’t.
Making Tax Digital is the latest move by the Government to make it easier for individuals and business to get their tax right and stay of top of their affairs. But there’s one small problem with this plan … according to our research, it seems that businesses in Cornwall just aren’t ready for it at
The Chancellor Philip Hammond stood up at the despatch box to deliver what was expected to be the last Budget before Brexit. Due to pessimistic forecasts by the Office of Budget Responsibly, he actually had billions more to play with thanks to better than expected tax collections. With the “era of austerity finally coming to
Making Tax Digital is on its way. Next year, if your turnover is over the VAT threshold, you’ll need to submit returns online. In readiness, HMRC has been working with more than 150 software suppliers who have said they’ll provide software for Making Tax Digital for VAT in time for April 2019. If you’ve got a system
Cast your minds back to 2015. Hopefully it was a good year for you, with some great memories. For us in the accountancy world, something very significant was announced. Following the budget, the Government decided to lay out it’s vision for a ‘really simple’, ‘easy to use’ transformed digital tax system – Making Tax Digital
It has been talked about for years but The Treasury officially announced in the Spring Statement that it has launched a consultation on the VAT threshold. The mere mention of VAT often sparks sensitivity from small businesses in particular who fear the lowering of the threshold from the current £85,000 down to a figure of
HMRC’s Task Forces are working across the UK to target cash businesses – particularly those involved with catering. The potential issues HMRC are looking for include under-declarations of sales, incorrect liability, standard-rated/zero-rated apportionments on eat-in and takeaway foods and the VAT treatment of tips and gratuities. Test Purchases at Cash Businesses As well as carrying out scheduled