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5 Mar 2021

The meeting will take place on Friday 12th March at 10am and will be co-chaired by Ruth Cadbury MP and Selaine Saxby MP

3 Mar 2021

Key highlights include an extension to the business rates holiday and furlough scheme, as well as new £6000 "restart" grants for non-essential retailers.

23 Feb 2021

The report provides key insights into the social and economic contributions of the rural shop sector, including profiles of the entrepreneurs that run rural shops, the investments they make and...

18 Feb 2021

Leading industry bodies, including IRC members, have warned the Secretary of State that this notion puts the future of our town centres at serious risk

17 Feb 2021

The Scottish Government Finance Secretary plans to extend 100% business rates relief for all retailers to cover all of 2021/22

10 Feb 2021

Use this template to email your MP to help independent retailers survive the pandemic by delaying the return of business rates.

10 Feb 2021

Letter to Rishi Sunak signed by Tesco, B&Q, Waterstones, and members of the IRC, calls for the business rates system to be reformed to make it fairer for physical stores

9 Feb 2021

Legislation has been laid to increase the minimum amount that retailers must charge for a single use carrier bag from 5p to 10p from 30th April 2021

5 Feb 2021

Over 65 retail organisations, including many members of the IRC, have written to the Prime Minister raising concerns of increasing instances of violence and abuse against shopworkers

3 Feb 2021

Buy now pay later (BNPL) firms such as Klarna and Clearpay are to be regulated by the Financial Conduct Authority after a report warned of the risk of people running into "unseen debt".

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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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