Digital Accounting
Self Assessment Tax Return
New requirements: quarterly digital updates plus an annual final declaration will replace the traditional Self Assessment return.
Instead of one annual Self Assessment return, you will need to submit quarterly updates and a final declaration.
Making Tax Digital
Making Tax Digital is the government initiative transforming the way we report tax to HMRC.
Over the next few years, all business will have an online digital tax account and they will be required to report income and expenses to HMRC on a quarterly basis.