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21 Dec 2020

All retailers, who have a taxable turnover of £10,000 or more per year from their business or income from property will now be required to submit their tax returns digitally.

18 Dec 2020

A coalition of small business leaders, tax experts and company directorshave mapped out the measures needed to address a government shortcomingwhich has left thousands with no income support...

17 Dec 2020

Since improvements were made to the ACT's offering back in October membership numbers have increased by 17.5% to the end of November as thenew structure is well received throughout the...

17 Dec 2020 | 1 comment

The ACT would like your opinion, as a bike business, on the level of government support you would like to see for the e-bike market over the next few years

17 Dec 2020

Butterworth Spengler have provided an update on the situation regarding the implications of driving outside the UK if a ‘Brexit' deal is not struck, and how this will affect motor...

17 Dec 2020

Popular Buy Now Pay Later (BNPL) providers have once again made the headlines across multiple news sites for the growing amount of distrust being triggered among consumers.

16 Dec 2020

Maybe* have used their insight tool to round up some of the best social media posts of #smallbizsatuk from businesses, customers, councils, BIDs, shopping centres, and lots more in between.

15 Dec 2020

Ricardo Energy & Environment and UK Power Networks are running a survey to understand how best to support SMEs that may be looking to invest in their first electric vehicle, or to switch their...

9 Dec 2020

Communities Secretary Robert Jenrick announced today (9 December 2020) that business owners affected by the pandemic will be protected from eviction until the end of March 2021.

8 Dec 2020

The webinar takes place this Friday will explore how cycling and walking will be key elements in securing the aims of the Environment Bill.

Tax Return to Become Digital from 2023

Posted on in Business News , Cycles News , Political News

TaxHRMC has announced that from April 2023, tax returns will be made digital.

This means that all retailers, who have a taxable turnover of £10,000 or more per year from their business or income from property will be required to submit their tax returns digitally. Retailers will submit their income tax self-assessments via the Making Tax Digital portal in the same way that VAT is submitted.

To sign up you'll need your:

  • business name
  • email address
  • National Insurance number
  • accounting period
  • accounting type such as cash or standard accounting

You'll also need the Government Gateway user ID and password you use when you file your Self Assessment return. If you do not have a user ID, you can create one when you sign up.

For more help on how to submit your tax returns digitally you can register for the next live webinar about Making Tax Digital for Income Tax

Businesses can sign up for Making Tax Digital for Income tax here.

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