Premier Software
Skip to primary naivgation Skip to content
  • Products
    • Salonlite
    • Salon
    • Core
    • College
  • Get our newsletter
  • Login
  • Free Consultation

Making Tax Digital

In the 2015 budget, the government outlined making tax digital (MTD). This is a result of over £8 billion a year in tax lost from avoidable taxpayer errors. this being put in place to try and avoid these errors from occurring. With this now set to come into force in 2020, here are a few key points you need to know to get yourself prepared.

Who will be affected?

  • – Businesses
  • – Anyone who is self-employed
  • – Landlords

 

When will they need to start using the digital service from?

  • – *April 2018 for income tax and National Insurance contribution (NICs) purposes if your turnover is over the VAT threshold
  • – April 2019 for income tax and NICs purposes if your turnover is below the VAT threshold.
  • – April 2019 for VAT purposes for everyone who is VAT registered.
  • – April 2020 for Corporation Tax (CT) purposes for everyone who pays CT*

Although, those listed above who have turnovers under £10,000 per year through self employment are exempt from these requirements.

Those in employment who have a secondary income of more than £10,000 per year through self employment or through property will be required to use the digital service.

*Source – https://www.gov.uk/government/publications/making-tax-digital-for-business/making-tax-digital-for-business 

Share Blog:

Facebook Twitter Twitter

More blog stories

5 Reasons Why Your Business Needs a Loyalty Scheme

Whether you already run a loyalty scheme within your business or have been looking at ways to increase repeat business, we take a look at …

Find out more

Break the routine with package bookings

Do your clients tend to repeat book their usual appointments without taking into consideration the other options on your menu? When a client falls into that …

Find out more

Why catering spas to the Millennial and Generation Z market is important

Both Millennials and Generation Z (Gen Z) can often be a missed opportunity for spas. After all, Millennials were born from the start of the …

Find out more
View all blogs
  • Products
    • Salonlite
    • Salon
    • Core
    • College
  • Support
    • Software Support Centre
    • Online by Premier Software
    • Webinars
  • Case Studies
    • English Lakes Group
    • The Landmark London
    • Nant Ddu Lodge Hotel & Spa
    • Alexander House Hotels & Utopia Spas
  • About Us
    • About Us
    • Partners
    • Social Wall
  • Careers
  • Contact Us
  • Login
  • FAQs
  • [email protected]
  • [email protected]
  • Privacy Policy
  • Cookie Policy
  • Terms
  • SalonLite Terms
  • Acceptable Use
  • Contact us

    Call:
    +44 (0)1543 466580
    Email:
    [email protected]
    Address:
    9 - 11 Heritage Park
    Hayes Way
    Cannock
    Staffordshire
    WS11 7LT
    Book a free consultation
  • 9 - 11 Heritage Park Hayes Way Cannock Staffordshire WS11 7LT
    Telephone: +44 (0)1543 466580
    © 2021 Premier Software. All Rights Reserved.

    • Webinars
    • Terms
    • SalonLite Terms
    • Acceptable Use
    • Cookie Policy
    • Privacy Policy
    We use cookies to give you the best experience possible. Click 'Accept' to continue exploring or find out more in our cookie policy. Read More… Accept Reject