Today we hear of yet another delay in the roll out of HMRC’s digital transformation framework.
April 2023 would have seen the beginning of MTD for Income tax self-assessment (ITSA) however parliament have listened to stakeholder feedback and delayed implementation to April 2024.
Self-employed individuals and landlords with gross income of over £10,000 from all such sources will be mandated to join and comply with new filing requirements which Forrester Boyd will be covering as soon as full details are released.
General partnerships will not be required to comply until April 2025.
Turning our attention to more current plans, the next phase of MTD for VAT, which affects all VAT registered businesses not already mandated, will remain uninterrupted and still commence from April 2022.
Stay tuned for our webinar guiding you through the approaching changes.
You can find HMRC's full announcement here.
All data and figures referred to in our news section are correct at the date of publishing and should not be relied upon as still current.
