HMRC’s vision to digitalise the UK tax system continues to unfold with General Partnerships that have a taxable income above £10,000 set to join Making Tax Digital (MTD) for Income Tax from April 2025. 

Key dates for your diary in November and December 2021.

In October, HMRC increased the threshold of self assessment liabilities from £10,000 to £30,000 for individuals setting up Time to Pay arrangements.

What is postponed accounting?

Postponed accounting means that the importer does not pay import VAT when goods arrive at a port or airport instead the VAT is deferred.

The Government has provided more support for the self employed in the latest March 2021 Budget announcement. 

For many years Chancellors have threatened to reduce the Income Tax relief that can be claimed for payments into a private pension scheme.

If you are presently registered for VAT but your turnover has dropped below £83,000 you could deregister for VAT.

Moore Guildford office organised a quiz night at The Albany, which took place on Monday, 17 October 2016, to raise funds for local charity, the Samson Centre for MS.

Moore Guildford office organised a quiz night at The Albany, which took place on Monday, 17 October 2016, to raise funds for local charity, the Samson Centre for MS.