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TaxCalc Blog

News and events from TaxCalc

MTD

Ben Handley (5)
01 April 2021

Mandatory digital links for MTD for VAT. What to do now.

Since the introduction of MTD for VAT a ‘soft landing period’ has been in place, allowing businesses time to get their systems digitally-linked to comply with the full MTD for VAT requirements. This period enabled businesses to use ‘cut/copy and paste’ methods to move data from one system to another before filing to HMRC. From 1 April 2021, this will no longer be permitted. However, there is no need to panic. It is likely you already have everything you need to continue being compliant, or some simple adjustments could be all that’s required. 

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Chris Norton (11)
19 March 2021

The Science Behind Compliance

We’ve all learned the necessity of compliance. Face masks, elbow handshakes, two-metre distancing, remote working, showing up for your jab – it may all be tough and go against impulse, but we understand that we need to comply with the rules. There is a cost to our society, our economy and our mental health, but putting it bluntly this is a matter of survival. If anyone is familiar with Maslow’s Hierarchy of Needs, our basic requirements are physiological well-being, plus safety and security. Though we may not agree with every single rule, we have to act en-masse to preserve our way of life.

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Andrew Webb (6)
24 February 2021

Do I need to complete an EC Sales List after Brexit

For the export of goods or the supply of services made to EU businesses on or after 1 January 2021, you will not need to submit an EC Sales List (ESL). You will have until 21 January 2021 to submit ESLs for sales made before 1 January 2021.

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Ben Handley (5)
03 December 2020

HMRC to Remove VAT100 XML Filing Service

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.

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Pauline Smith (8)
24 July 2020

The much-awaited Making Tax Digital Roadmap is unveiled

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.

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Sarah Dudley (9)
28 April 2020

Charity Commission advice, MTD for VAT soft landing period extended and IR35 Delayed

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.

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Andrew Webb (6)
27 February 2020

TaxCalc News February

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.

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Chris Norton (11)
29 October 2019

October news: New products, advice, MTD and 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.

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