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Are you a landlord, self employed or a general partnership?

If so, the next phases of Making Tax Digital (MTD) may apply to you.


Created 6/7/22


You may have read that Making Tax Digital, HMRC’s programme to digitalise tax, is

being gradually rolled out over a number of years.


Up until now, going digital for tax purposes has only applied to businesses above the VAT threshold (from April 2019) and then all VAT registered businesses (from April 2022).


The next phase, MTD for Income Tax Self Assessment (ITSA) requires other individuals to move to digital tax:


From April 2024 this will apply to individuals if your total gross income from self-employment and property exceeds £10,000 in a tax year.


This article was written by Culverhouse & Co Ltd. It is for general information and does not represent financial advice.


You can find out more about Making Tax Digital on the gov.uk website.

 
 
 

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Culverhouse & Co. is the trading name of Culverhouse & Co Ltd and Culverhouse Financial Planning Ltd.

 

Culverhouse & Co Ltd Company No: 6426365

Culverhouse Financial Planning Ltd Company No: 8470047

Registered Offices: 7 High Street, Farnborough Village, Kent, BR6 7BQ

Email: info@culverhouse-accountants.co.uk

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Culverhouse & Co Ltd is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C001690279.

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The guidance and/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK.

Content within this website does not represents financial advice. If you would like personalised financial advice please contact a financial adviser. 
Taxation is based on current legislation which is subject to change and will also depend on the individual circumstances of each investor. The value of your investments can fall as well as rise and investors may not get back the full amount they initially invested.  Past performance is not a guide to future performance. 

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