Making tax digital testing to be launched
[ad_1] Agents will be invited to sign up clients later in April for making tax digital income tax self assessment. ICAEW will consider the pros and cons in a webinar. Making tax digital income tax self assessment (MTD ITSA) requires a taxpayer to keep digital records and send quarterly updates to HMRC using compatible software. […]
Digital scheme for DIY housebuilder VAT refunds launched
[ad_1] Taxpayers building their own home can now claim back VAT incurred through an online service. HMRC has launched an online service to reclaim VAT for DIY housebuilders. This follows an announcement at the Spring Budget 2023 and an update at the Autumn Statement 2023. The VAT DIY housebuilders scheme allows taxpayers building their own home to […]
Developing Countries Trading Scheme launched
[ad_1] The new Developing Countries Trading Scheme replaces the UK Generalised System of Preferences. On 19 June 2023, the Developing Countries Trading Scheme (DCTS) replaced the UK Generalised System of Preferences (UK GSP). The scheme has been designed to improve access to the UK market for developing countries. The DCTS applies to countries that previously […]