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WEB1 day ago — April 2022 saw the extension of MTD for VAT and April 2026 will see the implementation of MTD for income tax self assessment (MTD for ITSA) for landlords or the self-employed with turnover of at least £50,000. AccountingWEB.co.uk is the largest independent online community for accounting and finance professionals, providing all …
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WEB4 days ago — Making tax digital. Making Tax Digital (MTD) is a UK government initiative to digitise the tax system. April 2022 saw the extension of MTD for VAT and April 2026 will see the implementation of MTD for income tax self assessment (MTD for ITSA) for landlords or the self-employed with turnover of at least £50,000. Read more Making tax digital.
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WEBEmphatic hold as interest rates stay at 5%. AccountingWEB features the latest accountancy news, features and industry & community insights to keep the profession in the know.
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WEB1 day ago — Latest accountancy news and comment. AccountingWEB helps accounting and finance professionals achieve organisational and career success by providing them with industry news, expert commentary, tech insight, and …
Time to focus on the associated company rules - AccountingWEB
WEBMar 10, 2023 — From 1 April, the corporation tax rate a company pays in any accounting period will depend on its profits as follows: below £50,000 – small profits rate of 19%. above £250,000 – main rate of 25%. between £50,000 and £250,000 – main rate of 25% less marginal relief. These limits are much lower than they were in 2014/15 (when they were ...
Tax year basis: Dealing with estimated figures | AccountingWEB
WEBDec 9, 2022 — All unincorporated businesses must report using the tax year basis from 2024/25, with 2023/24 being the transition year, which causes some tax calculation issues. Based on the dates as announced, only sole-trader businesses with annual trading and/or property turnover exceeding £10,000 will be mandated into MTD ITSA from 6 April 2024.
How to advise clients on basis period reform | AccountingWEB
WEBNov 28, 2023 — In the tax year 2023/24, the “transitional year” for basis period reform, many businesses will have additional taxable profits to report. The taxable profits for 2023/24 are split into two parts: the transitional part: taxable profit between the end of the AP in 2023/24 and 5 April 2024. So for a business with a 31 December AP end that means:
Management accounting | AccountingWEB
WEB2 days ago — All the latest management accounting news, views and analysis focused on the day-to-day world of the finance team. Subscribe to the AccountingWEB weekly business newsletter. Enter email address *. Management accounting. 4th Sep 2024.
Cash basis to replace accruals for self-employed
WEBNov 22, 2023 — The Chancellor has announced that cash basis is to replace accruals for the self-employed as standard accounting process for 2024/25 (first year of tax year accounting). 22nd Nov 2023. 30 comments. Promising to make it “easier for small businesses as they set up and grow” the Chancellor has announced the expansion of the cash basis of ...
Tax year basis: Get the details right | AccountingWEB
WEBSep 16, 2022 — All unincorporated businesses, including all partnerships and LLPs, will have to report their accounting profits or losses on a tax year basis from 2024/25. Periods ending between 31 March and 5 April (inclusive) are treated as being aligned to the tax year, so businesses using these accounting periods are not affected by points 3 and 4 below.
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