MTD For Self Assessment: Don't panic if you missed the first deadline
If you've recently discovered that the first Making Tax Digital (MTD) for Income Tax quarterly submission deadline has passed, don't panic. The first deadline, August 7, has passed, but there are currently no late-filing penalties for businesses that miss this initial quarterly update ... MTD For Self Assessment: Don't worry if you missed the first deadline, there's still time to file your taxes digitally Making Tax Digital is one of the biggest changes to the UK tax system in years. Instead of completing one annual Self Assessment tax return using a year's worth of paperwork, eligible self-employed individuals and landlords will eventually submit quarterly updates to HMRC using compatible software. The aim is to make tax reporting more accurate, reduce errors | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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If anything I've written in this blog post resonates with you and you'd like to discover more about MTD For Self Assessment, it may be a great idea to give me a call on 01604 420057 and let's see how I can help you. |
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