News and events from TaxCalc
Recently, HM Revenue and Customs shared news of changes to its IT infrastructure, involving the migration of VAT Customer Accounts to a new system. Following this migration, HMRC will decommission the current XML submission service from 8 April 2021.Read more
Should accountants start discussing the changes with their clients and implementing solutions? How long have they got to prepare? Is it worth spending time on it?
As part of a new 10-year plan to modernise the UK tax administration, we finally have some answers. The accounting industry can finally start planning with some certainty and to a sensible timeline.Read more
The Charity Commission has advised that charities due to submit an Annual Return imminently, but are unable to do so, can email them to request a filing extension. Coronavirus guidance for the charity sector provides information in response to the most commonly asked questions about operating during this period.Read more
HMRC Update on off-payroll (IR35) rules
Whilst a review of the IR35 implementation plans continues in the House of Lords until the end of this month, HMRC have announced changes to the draft legislation.
HMRC has confirmed that the new rules for contractors, working for medium and large-sized companies, will affect services provided after 6 April 2020 and will not be applied retrospectively regardless of payments made after this date. Where the services are performed by the contractor before 6 April 2020 it will continue to be the responsibility of the contractor and their personal service company (PSC) to decide if the work falls within IR35 and pay the right amount of tax to HMRC.Read more
What with all that’s going on in the world, it’s easy to get overloaded with information. So we’ve brought you the most relevant news and updates relating to your life in practice. Here’s our October roundup of some of the latest changes in legislation, plus pertinent product news and advice.
Following the introduction of MTD for VAT and the first quarterly submission deadline having just passed on the 7th August, we’ve taken a look through 4 of the common errors encountered with the HMRC MTD portal.
Like most processes any big changes can lead to a question of ‘We can’t know what we don’t know’, if you encounter an error for the first time.
While the UK finds itself these days having to manoeuvre political and economic minefields, the accountancy profession faces its own increasing levels of uncertainty with technological, social and legal factors influencing practices at every turn.
The challenges have been continuous, with updated FRSs, the GDPR, MLRs and the imminent rollout of MTD for VAT with BREXIT and MTD for Business hot on their heels. There’s simply no getting away from the fact that change is inevitable.
These changes will affect the services you provide, how you interact with your clients – and how you manage your practice.
We’d love to meet you!
The TaxCalc team will be on stand 250 at Accountex 2018! Held at ExCel London on 23rd and 24th May, Accountex is the UK’s largest exhibition and conference dedicated to the Accountancy and Finance profession.
We’re very excited about Accountex 2018! We’ve got lots to talk about, here’s a sneak preview into what will be happening on the TaxCalc Stand.