Category: Sole traders & partnerships

Making TAX Digital (MTD) – Are you preparing?

HMRC is soon to make a fundamental shift in the way UK tax is administered. This will affect all but the smallest of businesses.  A new digital process is to be introduced to provide HMRC with ‘real time’ information.  This…

Do you need to notify HMRC?

I had to refer to HMRC’s ‘Penalties for failure to notify’ recently. It contains some useful information on what constitutes a failure, the penalties imposed and how these are calculated. One obvious problem with notifying HMRC is the ‘ignorance is…