Technology services
MTD and the cloud
If your business is VAT registered, you must submit your VAT returns digitally, using approved HMRC software. When Making Tax Digital (MTD) first came into force, HMRC allowed businesses additional time to put in place digital links.
This soft landing came to an end in April 2021. Since then, HMRC has been issuing penalties for not keeping complete and ‘adequate’ digital records for VAT returns – which means copy and paste data is no longer sufficient.
Additionally, from 1 April 2022, many more businesses need to comply with digital reporting requirements. If your business is registered for VAT, regardless of turnover you MUST sign up for MTD.
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July 25, 2024
Making HMRC pay for poor service
Dealing with HM Revenue & Customs (HMRC) can sometimes be challenging. Long wait times when phoning for help, incorrect refund amounts, errors in tax codes and other issues can cause frustration. In recent months and years the decline in service standard from HMRC has been notable, but did you know that it is possible to complain about HMRC and even receive compensation?
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Inflation stable staying at 2%
The Office of National Statistics has released the latest inflation figures for June, and the good news is that the Consumer Prices Index (CPI) has stayed at 2.0%.
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