MTD expected to cost Ā£1 billion more than originally forecast
A report published by the National Audit Office (NAO) has found that HMRC’s Making Tax Digital (MTD) initiative is expected to cost around Ā£1 billion more than its initial Ā£226 million budget, which was forecast in 2016. MTD is intended to modernise the tax...HMRC extends deadline for voluntary NICs to April 2025
HMRC has extended the voluntary national insurance contributions (NICs) deadline until 2025. Extending the voluntary NICs deadline until 2025 will give people more time to consider whether paying voluntary contributions is right for them, and also ensures individuals...IR35 – Why Is Change Needed?
IR35, a tax legislation introduced by the UK government in 2000, has been a subject of controversy and criticism for many years. The law has been accused of causing confusion, creating additional administrative burdens, and unfairly punishing self-employed workers. In...Understanding the new penalty reform system with HMRC
Take a look at this on demand webinar from Quickbooks with HMRC on the changes to the default surcharge regime for late VAT returns and payments which has been replaced by a new points-based system effective from January 2023.
