Monthly Archives: October 2016

Making Tax Digital: HMRC Aim For Digital Tax System By 2020

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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HMRC rolling out digital taxFollowing the March 2015 budget, the government pledged to make fundamental changes to the way the tax system works – moving to a fully digital tax system for individuals and small businesses by 2020.

The goal of the digital tax system is to create a more effective and efficient system that’s easier to use; allowing HMRC to keep better track of people’s income and reduce administration costs for businesses.

Find out more about the change to a digital tax system, and how it will affect you.

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Changes That Affect Your Business: Confirmation Statement Replacing Annual Return

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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confirmation statement to replace annual returnAs of June 30th 2016, companies are now required to submit a confirmation statement to Companies House as opposed to the annual return that is usually filed. This change affects all private limited companies and limited liability partnerships (LLP’s) registered in the UK.

The change requires companies to deliver a confirmation statement to Companies House once every 12 months to ensure information about their business is accurate and up to date; even if the company is dormant.

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