Delay of VAT Making Tax Digital ‘phase two’ The government has announced that, in light of the impact of Covid-19, the digital links requirement of Making Tax Digital for VAT will be deferred by 12 months to 1 April 2021. What is being delayed? The first...
Hawsons Chartered Accountants is 165 years old Hawsons Chartered Accountants was founded in the city of Sheffield in 1854 – more than 25 years before the creation of the Institute of Chartered Accountants in England and Wales – by Alfred Allott and John Hewett....
Making Tax Digital: HMRC softens digital link deadline HMRC have said that a few businesses could qualify for an extension to their Making Tax Digital (MTD) for VAT soft landing period. Under current rules for VAT everything must be done digitally including transfers,...
VAT registered businesses with a taxable turnover above the VAT threshold (£85,000) are now required to use the Making Tax Digital service to keep records digitally and use software to submit their VAT returns for VAT periods that started on or after 1 April 2019. The...
Spring Statement 2019 Amidst all the Brexit debates, the Chancellor Philip Hammond presented his second Spring Statement on Wednesday 13 March 2019. In his speech the Chancellor provided an update on the economy and responded to the Office for Budget Responsibility...
Lords call for a delay to Making Tax Digital for VAT until 2020 The House of Lords Economic Affairs Committee have issued a scathing report on HMRC’s Making Tax Digital (“MTD”) for VAT program. The committee have voiced disappointment that on many issues raised by...
