If you run a PAYE payroll within your company, you will need to deduct any National Insurance (NI) contributions made by your employees, along with any Income Tax that they may have to pay from the amounts that you pay to them, and instead pay it directly to HMRC. On top of this, if you are liable for any Employers … Read More
What is Making Tax Digital for Income Tax and will it affect me?
Note: this post was last updated on 7th March 2025HMRC have been working on their Making Tax Digital (MTD) program for several years. It has been implemented for VAT returns and they are looking to implement it for Income Tax Self Assessment (IT) next, with partnerships and Corporation Tax being further down the road. The current implementation date for the … Read More