Andrew Robinson explores the benefits for farming businesses embarking on the digital transition and explains how to get the most out of your existing system.
Andrew Robinson encourages farmers to prepare their farm businesses for Making Tax Digital and highlights the time and money-saving benefits in the long-run.
Under Making Tax Digital (MTD) businesses need to grant permission for their accounts software providers to access their HMRC data and this permission must be updated every 18 months.
From 1 March 2021, there will be a significant change to how suppliers in the construction industry supply chain account for VAT. The changes will apply to businesses making or receiving specified services that are reported under the Construction Industry Scheme (CIS).
The off-payroll working rules are designed to ensure individuals working like employees but through their own limited company pay the same Income Tax and National Insurance contributions as individuals who are directly employed.