Autumn Statement 2022 On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The...
Making Tax Digital for income tax is being introduced on 6 April 2024. It will affect self-employed individuals and landlords with annual business or property income above £10,000. For general partnerships, the start date has been set at 6 April 2025. LLPs will join...
Chancellor brings forward further medium-term fiscal plan measures As the saying goes, a week is a long time in politics. However, recent events have been unprecedented. At the Mini Budget a new Prime Minister and Chancellor launched a new agenda, ‘The Growth Plan’....
On 1 April 2019 (this was not a joke!!) HMRC introduced Making Tax Digital (MTD) for VAT. Businesses above the current VAT threshold of £85,000 have since needed to submit their VAT returns using “functional compatible software”. As of 1 April 2022, all VAT...
Hawsons Chartered Accountants turned 165 years old in 2019 Hawsons Chartered Accountants was founded in the city of Sheffield in 1854 – more than 25 years before the creation of the Institute of Chartered Accountants in England and Wales – by Alfred Allott and John...
Making Tax Digital: HMRC softens digital link deadline HMRC have said that a few businesses could qualify for an extension to their Making Tax Digital (MTD) for VAT soft landing period. Under current rules for VAT everything must be done digitally including transfers,...
Spring Statement 2019 Amidst all the Brexit debates, the Chancellor Philip Hammond presented his second Spring Statement on Wednesday 13 March 2019. In his speech the Chancellor provided an update on the economy and responded to the Office for Budget Responsibility...
What is Making Tax Digital? (MTD) MTD is the biggest shake-up of the personal tax system in 20 years and will fundamentally change the way taxpayers report to HM Revenue & Customs (HMRC) and keep their business records. Taxpayers will be required to keep records...
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