UK tax

Transforming the VAT return into an MTDfB Tax Return

I wasn’t in my bath when I had this particular Eureka moment, I was actually discussing the MTDfB changes with HMRC’s implementation team following the annoncements made last week. In a nut-shell, it occurred to me that with a few changes (inexpensive changes!) the humble VAT return, which is already filed online, could be changed… Continue reading Transforming the VAT return into an MTDfB Tax Return

Gov.uk announcements

Free software for MTD

The terms of the software development agreement – that will drive the collaboration between developers and HMRC were published today. Here. The closing comments of the document caught my attention, they say: Eligibility for free software will apply where the business meets all these conditions: they’re unincorporated (for example self-employed persons or landlords) they have… Continue reading Free software for MTD

Gov.uk announcements

OTS recommend simplifying corporation tax compliance

The long awaited OTS review of corporation tax has been published. Wide ranging reforms recommended, including: Small companies For the very smallest companies, to use the accounting profit prepared under accounting standard FRS105 as the taxable profit without any adjustments. For slightly larger companies, the proposal is that companies should only need to consider a… Continue reading OTS recommend simplifying corporation tax compliance