HMRC have launched a new interactive tool Check if you need to use Making Tax Digital for Income Tax intended to help taxpayers establish whether they are in scope of the new regime. The tool follows the basic principles that those within self-assessment whose qualifying earnings are over the £50 000 or £30 000 threshold for relevant tax years will be within scope and also covers other less obvious scenarios (for example personal representatives who are excluded from MTD).
HMRC have also published new and updated MTD for ITSA guidance as follows:
Work out your qualifying income for Making Tax Digital for Income Tax: new guidance setting out what counts as qualifying income from self-employment and property for MTD for ITSA purposes;
Find out if and when you need to use Making Tax Digital for Income Tax: updated with details as to when to start using MTD for ITSA...
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HMRC have launched a new interactive tool Check if you need to use Making Tax Digital for Income Tax intended to help taxpayers establish whether they are in scope of the new regime. The tool follows the basic principles that those within self-assessment whose qualifying earnings are over the £50 000 or £30 000 threshold for relevant tax years will be within scope and also covers other less obvious scenarios (for example personal representatives who are excluded from MTD).
HMRC have also published new and updated MTD for ITSA guidance as follows:
Work out your qualifying income for Making Tax Digital for Income Tax: new guidance setting out what counts as qualifying income from self-employment and property for MTD for ITSA purposes;
Find out if and when you need to use Making Tax Digital for Income Tax: updated with details as to when to start using MTD for ITSA...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
