In this first part of a six part series (1/6), in conjunction with Tax Journal magazine, we look at the current mood among businesses towards Making Tax Digital for VAT, the appetite for automation, and the benefits a longer term strategy can bring.
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.
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.
Find out about the Carried Forward Loss Restriction (CFLR).
Discover how Alphatax can assist you in meeting the compliance requirements of the Corporate Interest Restriction (CIR) legislation.