In line with the e-invoicing initiative we reported on elsewhere, the Chancellor also outlined broader reforms to modernise HMRC through a Digital Transformation Roadmap, which is expected in Spring 2025. This roadmap will aim to create a “digital-first” tax system,...
Chancellor pushes for e-invoicing: What you need to know
The Chancellor unveiled a series of announcements last week that could have implications for UK businesses. One of the most relevant for business owners was the government's push for electronic invoicing (e-invoicing). HM Revenue and Customs (HMRC) will soon launch a...
Are training costs tax deductible for the self-employed?
HM Revenue & Customs have recently updated and clarified their guidance on training costs paid by the self-employed. The general rule for whether the cost of a training course can be deducted from your self-employed profits is that it must be incurred wholly and...
How will MTD Affect Self-Employed and Buy-to-Let Landlords?
Instead of completing a yearly personal tax return, under the Making Tax Digital rules, you’ll have to keep and submit digital records of your earnings and expenses using MTD-compatible software. There are three parts that you will need to submit for MTD: Submitting...