BLOGS FROM OUR EXPERTS

What are the implications of HMRC’s new digital services tax? Rob Ogilvie provides an overview and looks at how it will align with corporation tax.

In the fourth of this six part series (4/6), in conjunction with Tax Journal magazine, we look at how a scalable Making Tax Digital solution can provide the business with additional functionality as well as ensuring compliance.

Making Tax Digital was always going to be an ambitious undertaking. The simpler requirements of VAT made it an ideal candidate for testing the water, preparing the way for the digitalisation of more complex taxes, corporation tax and income tax. But will businesses have to invest again?

In the third of this six part series (3/6), in conjunction with Tax Journal magazine, we explore the three solution choices businesses face and suggest some smart criteria for picking your Making Tax Digital for VAT software.

In the second part of this six part series (2/6), in conjunction with Tax Journal magazine, we look at how you can pre-test the Making Tax Digital for VAT submission process before committing to the pilot thereby enabling the business to avoid reporting errors and familiarise the finance team with the process.

Finance Act 2019 removes the unexpected restriction on the group relief carried forward claim where company’s relevant profits do not exceed the deductions allowance available. Under the existing legislation, the deductions allowance may inadvertently limit the amount of relief claimable in such a scenario.

The House of Lords Economic Affairs Committee has heavily criticised MTD for VAT but its report also revealed what MTD solutions need to bring to the table.

Finance Act 2019 introduces a new capital allowance pool for qualifying expenditure on structures and buildings. Companies will be able to claim a writing down allowance at 2% of qualifying expenditure on a straight line basis.

IFRS 16 came into force for periods beginning on or after 1 January 2019 but how does it affect your tax computations?

Data collection has the power to improve tax processing but where are you on the road to automation? Jane Malkin looks at the options.

For those who manually enter data and rely upon spreadsheets, the transition to comply with Making Tax Digital can seem like a daunting prospect. But it’s far easier than you might think to take those first steps towards automation and real-time reporting.

What are the implications of the MTD deferral period announced by HMRC? We consider what this means for those seeking to become compliant.

How will the Budget and Finance Bill affect you? Rob Ogilvie provides an overview.

Find out about the Carried Forward Loss Restriction (CFLR).