Essential MTD and advice for the exhausted adviser
The Government has formally announced the following update with reference to the implementation of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA):
• MTD for ITSA filing will not become mandatory until April 2026;
• from that date, only the self employed and landlords with an income of £50,000 or above will need to comply;
• taxpayers with income of £30,000 or more will have to join the scheme from April 2027.
Further consultations will take place to decide how taxpayers with income of less than £30,000 will be dealt with under the MTD for ITSA scheme, as well as confirming when partnerships will have to comply.
Having spoken to Rebecca we are delighted to confirm this course will still cover the latest progress being made in terms of how the ‘new’ MTD will look, especially for those with incomes below £30,000, how landlords and partnerships will be dealt with and the transition (potentially still from April 2024 to the tax year basis period).
Rebecca has confirmed that, as well as the essential MTD update, the course will now also include other practical issues affecting advisers working through this difficult economic period.
COURSE MATERIALS
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