From 1 April 2019, businesses will be mandated to use the MTDfB system to meet their VAT obligations under MTDfV.
This only affects businesses with a taxable turnover above the VAT threshold (currently £85,000). Continue reading
Making Tax Digital for VAT
Deadline for ‘paper’ SA Returns
The deadline is approaching. There’s not much time left for self-employed individuals wanting to submit ‘paper’ self assessment returns.
For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2017/18 return is 31 October 2018. Continue reading
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Tagged paper deadline, paper returns, returns, self assessment deadline
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Self-employed Class 2 NI Payments
The government has decided Class 2 National Insurance Contributions (NICs) are here to stay and will not be abolished from April 2019.
Class 2 National Insurance Contributions are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. Continue reading
