Emma Rawson

4 weeks ago | accountingweb.co.uk | Emma Rawson

Rachel Reeves’s Spring Statement was intended to focus on economic updates, and not tax measures. However, hidden among the details were some interesting updates on Making Tax Digital for income tax (MTD ID). These include a set date for the reduction in the income threshold to £20,000, new exemptions and deferrals, and confirmation that HMRC will not be providing an online service to file the year-end return.

Jan 21, 2025 | accountingweb.co.uk | Emma Rawson

The first couple of weeks of 2025 have been eventful when it comes to Making Tax Digital for income tax (MTD IT). We’ve had new guidance for those in testing, and the Exchequer Secretary to the Treasury being grilled by the Treasury Committee. To cap this off, on 17 January HMRC released two long-awaited pieces of guidance – an update notice and a digital record-keeping notice.

Jan 14, 2025 | accountingweb.co.uk | Emma Rawson

As we head into 2025, we are now in the last full calendar year before Making Tax Digital for income tax (MTD) becomes a reality in April 2026. MTD may be only 15 months away, but there is still plenty left for HMRC, agents and taxpayers to do. So what developments can we expect to see over the coming year? More guidanceHMRC has published a number of pieces of MTD guidance recently, including an agent toolkit. However, we are still waiting for some critical bits and pieces.

Dec 2, 2024 | accountingweb.co.uk | Emma Rawson

The Autumn Budget certainly wasn’t lacking in headline-grabbing announcements. However, if we dig further down into the details, there are some upcoming changes affecting company cars that businesses need to be aware of before signing up for new vehicles. In particular, changes to the benefit-in-kind rules are about to make some cars much less attractive than they have been to date. What’s changing?

Oct 30, 2024 | accountingweb.co.uk | Emma Rawson

One of the most surprising announcements at today’s Budget was actually something that the Chancellor isn’t going to do. Despite strong rumours to the contrary, it appears that fuel duty will not be increased in the near future. Alongside this, there will be further grants and an extension of existing tax incentives to drive the adoption of electric cars. So what does this mean for the future of fuel duty and car taxation?