Making Tax Digital for Income Tax introduces new reporting requirements for many sole traders and landlords. Below are answers to some of the most common questions about MTD, including who it applies to, what records must be kept, and how quarterly reporting works.
If you're new to Making Tax Digital, you may also find our MTD timeline, our short guide to MTD for Income Tax, and our MTD preparation checklist helpful.
Make the most of your situation
We understand that providing your services isn’t cheap. Staffing costs, supplier bills, and even carrying out regular day-to-day tasks can all add up.
Thankfully, the Government has several tax relief schemes to take advantage of, depending on your specialist industry. While it may seem like a drawn-out process applying for relief, with Affinity Richmond by your side, we’ll make sure everything is done correctly.
At the end of the day, if you can recover some of your operational costs, why shouldn’t you?
Don’t short-change yourself by ignoring the range of reliefs you may be entitled to. Ask Affinity Richmond for help.
EIS and SEIS
Capital investment to give your company the boost it needs.
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R & D tax relief
Claim back costs from your big breakthrough.
Find out more >
Share schemes
Incentivise your team in a tax-efficient way.
Find out more >
Want to discuss the best option for you?
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