MTD ITSA delayed to April 2024

Making Tax Digital (MTD) and Sole Trader Businesses and Landlords

 

Are you a Sole Trader or Landlord with a turnover greater than £10,000?

 

Have you heard of MTD and how it affects your financial business reporting to HMRC?

 

From 6th April 2023, (DELAYED TO APRIL 2024) HMRC are introducing new financial reporting rules to Sole Traders and Landlords with turnovers greater then £10,000. From this time, you will need to be using MTD compliant software to prepare and submit your accounts to HMRC, which will be done digitally every quarter with a total of 5 submissions. These are made up of 4 quarterly submissions and 1 final submission.

 

It is our mission to ensure if you fall into this category, you are confident and prepared before the live date of 6th April 2023.

 

Contact us for a free consultation to discuss how MTD may affect your business.

 

We are here to support you!

Kickstarter Scheme

The latest from HMRC:

 

"The Kickstart Scheme provides funding to create new jobs for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment. Employers of all sizes can apply for funding until 17 December 2021 which covers:

Employers can spread the job start dates up until 31 March 2022. You’ll get funding until 30 September 2022 if a young person starts their job on 31 March 2022.

Further funding is available for training and support so that young people on the scheme can get a job in the future."

"Applications to the Kickstart Scheme are closing soon.

After 17 December 2021 you will not be able to:

  • apply for a new Kickstart Scheme grant

  • add more jobs to an existing grant agreement

We will process applications submitted before this time or that are already in progress."