HMRC

 
 

How Does iXBRL Affect My Business’ Accounts Preparation and Reporting Process?

07 Dec, 2018  Posted By Thenvi Subin   Posted in iXBRL
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From 1 January 2010, legislation has been in place in the U.K. that requires companies to file their accounts and computations with HMRC in Inline XBRL (iXBRL) format in respect of returns submitted on or after 1 April 2011. There … Continue reading

 

HMRC and iXBRL Tagging – What You Should Know

07 Dec, 2018  Posted By Thenvi Subin   Posted in HMRC, iXBRL Tagging
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Many companies in the U.K. have their year-ends on either the 31 December or 31 March. This means that many businesses, especially those with December year-ends, will need to comply with HMRC filing deadlines within a matter of weeks. With … Continue reading

 

Making Tax Digital : What’s coming our way!

15 Nov, 2018  Posted By Thenvi Subin   Posted in MTD
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One of the most intellectual persons the world has ever had, Albert Einstein said, “The hardest thing in the world to understand is the income tax.” Tax payments have almost been like rocket science to most taxpayers. Even Former U.S. … Continue reading

 

The Importance of Finding the Right Managed Tagging Service Provider

25 Oct, 2018  Posted By Shabeer   Posted in iXBRL
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Since April 2011, legislation has been in place in the UK that requires the vast majority of companies to submit their corporation tax returns and accompanying financial statements in iXBRL format to HMRC. As a result, companies – especially large … Continue reading

 

HMRC opens pilot for MTD VAT filers

19 Oct, 2018  Posted By Shabeer   Posted in MTD
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The tax authority HM Revenue & Customs (HMRC) has invited more than half a million businesses to test Making Tax Digital (MTD) for VAT moving forward to the digitisation of tax which will be effective from April 2019. HMRC has … Continue reading

 

It’s time to get ready for Making Tax Digital

12 Oct, 2018  Posted By Shabeer   Posted in MTD
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Originally announced back in 2015, Making Tax Digital aims to digitise the UK’s taxation system through the use of digital records and online filing through compatible software. With just months to go before the launch of Making Tax Digital for … Continue reading

 

Who Could Use CATO to File Their Returns with HMRC in the UK?

10 Oct, 2018  Posted By Shabeer   Posted in HMRC
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In the ideal world, it wouldn’t cost businesses any money to file their annual tax returns and accounts with HMRC and Companies House, respectively. Luckily, for some companies, this dream is a reality thanks to the Company Accounts and Tax … Continue reading

 

Making Tax Digital and the Agent Services Account

28 Sep, 2018  Posted By Shabeer   Posted in MTD
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There has been a lot of focus on how individuals and businesses can get ready for Making Tax Digital, but how do agents get involved in the process? What is an agent services account? If tax agents wish to access … Continue reading

 

Missed your Corporation Tax filing deadline with HMRC? You can still avoid late filing penalties

21 Sep, 2018  Posted By Shabeer   Posted in iXBRL
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Have you been issued a penalty notice from HMRC for not filing your corporate tax returns? Worry not. You may still be exempt from late filing penalties if you are victim to a valid, excusable reason. In the UK, companies … Continue reading

 

Making Tax Digital for VAT Notice Released by HMRC

28 Aug, 2018  Posted By Karthik Sathuragiri   Posted in MTD
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On 13 July 2018 HMRC released VAT Notice 700/22: Making Tax Digital for VAT. As the scheme is only months away from its scheduled launch date, businesses and accounting firms alike will likely welcome the additional clarification that this release … Continue reading

 

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