Making Tax Digital Delayed By One Year

The new Financial Secretary to the Treasury, Lucy Frazer MP, has announced that part of HMRC’s flagship project Making Tax Digital will be delayed for one year, meaning that quarterly income tax reports will need to start being submitted to HMRC from April 2024 instead of 2023.  This will affect self-employed people and landlords with […]

HMRC’s ‘Simplification’ For Self-Employed Accounts

HMRC has issued plans to alter how self-employed people manage and pay their tax costs, due to come into effect in 2023.  In essence the proposal replaces the ‘current year basis’ method for establishing taxable profits / allowable losses with a ‘tax year basis’ method instead.  This means that self-employed people will be required to […]