Changing Times – The end of Self Assessment Tax Returns.

 

From 6 April 2024 HMRC are Making Tax Digital for Income Tax (MTD for ITSA) compulsory. 

 

MTD for ITSA will apply to taxpayers who have business and or property income over £10000 annually. Income and expenditure will be reported to HMRC quarterly.  A final declaration will also need to be filed to HMRC; this declaration will replace the self assessment tax return.

 

Not all the I’s have been dotted and the T’s crossed with regards to the guidance HMRC are to issue to taxpayers and software providers but I think it’s something both you and I should keep our eyes on.

 

As always, we will keep you posted; Or if you feel you need help now, please get in touch.

 

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Our chosen charity again this year is Guide Dogs, Please see below Murphy.

 

(Picture courtesy of Guide Dogs)

 

Perhaps you...

  • Are looking to start in business
  • Are an established business that is looking for a new accountant
  • Looking to grow your business
  • Require MTD for VAT, Tax, Payroll or Bookkeeping services
  • Seeking a reliable, efficient, friendly, proactive accountant

Then we look forward to demonstrating our no nonsense service by attending to your accountancy and business needs - JUST ASK!

 

A A Accountancy has a growing reputation as one of the region's most effective accountancy firms for individual clients and businesses. 

 

Our firm expertly attends to all your taxation and business queries. Thanks to the established knowledge of our experts, our dedication and many years of experience in accountancy and taxation, we can offer you support that you can rely on. 

 

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From taxation and accountancy right through to business development: we offer you comprehensive and individual support on all business matters.

  

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