Making Tax Digital (MTD) is a new scheme that has been set up by HMRC as a way to modernise the tax system in the UK, replacing paper records with a digitalised system. Once the MTD system is in place, business owners must keep digital records and make submissions to HMRC using approved software. When…
Tag: Accounts
HMRC delays in checking tax returns
HMRC have warned that there will be major delays in the checking of tax returns for the 2020/21 tax year. With so many changes for many self-employed individuals this year, including CJRS (furlough) and SEISS grants, HMRC are manually double checking any tax returns that have been in receipt of either CJRS (furlough) and/or…