Self employed and earn over £50k? Changes are coming to your Income Tax return. | HMRC
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Worried about the cost of Making Tax Digital? Did you know there are free options available? If you’re a sole trader or landlord and have turnover of more than £50,000, you’ll need to use recognised software to keep digital records of your income and expenses. Find out more about Making Tax Digital and what software’s available: 👇 https://makingtaxdigital.campaign.gov.uk/making-tax-digital-software/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd&utm_content=software | HMRC
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Making Tax Digital for Income Tax explained (free guide)
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Making Tax Digital, made simpler. ✅ We’re partnering with leading global financial technology company SumUp to help sole traders get ready for MTD for Income Tax. Accounting and tax filing will now be built into the SumUp Business Account, free to use, with no extra software. That means you can: 💼Manage your finances ✅Submit tax updates directly to HMRC 🗂️Keep everything in one place Powered by Sage and designed to fit into how SumUp customers already run their business. Find out how to prepar
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💻Making Tax Digital is about to change how millions of people file their tax returns. It’s HMRC’s new digital reporting system and it’s a major shift for Self Employed people. 👉🏻Paper records are out. 👉🏻Spreadsheets won’t be accepted. And the familiar once-a-year tax return is being replaced with ongoing reporting throughout the year.📊 ✨Instead, you’ll need approved software that links directly to HMRC, and digital records will need to be kept from day one. ✨This is the biggest shake-up to
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