Luke Photi

Further Clarification on TOMS for MTD

During the ABTA Travel Finance Seminar last week, there was some confusion regarding Making Tax Digital (MTD) and Tour Operators Margin Scheme (TOMS).  In particular, the question was raised as to the proposed staging date. As you will likely be aware, the date in which MTD ceases as a pilot scheme and becomes live is…

Luke Photi

Making Tax Digital – Are you ready?

What’s it all about? If you’re fond of listening to the radio, the chances are that you’ve heard the government’s catchy advertisement for ‘Making Tax Digital’ (MTD). It’s the latest initiative from Her Majesty’s Revenue and Customs (HMRC) to simplify the tax system. In a nutshell, we’re eventually going to have to submit all tax…

Making Tax Digital – Further Delays

Making Tax Digital has been shrouded in uncertainty since its inception.  The goal posts have already been moved a few times, but this latest announcement has potential moved the whole pitch! HMRC’s original plan would have made Small entities and sole traders to start quarterly reporting from April 2017, but those below the VAT threshold…