Making Tax Digital
Making Tax Digital (MTD) will affect most businesses by changing how business records are kept and how tax information is sent to HMRC.
The first stage of MTD was for VAT returns, and we have successfully helped our VAT registered clients to meet their MTD obligations.
The next stage, Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA),will become mandatory for certain self-employed individuals and property landlords from 6 April 2026. We will be able to recommend suitable software and help you prepare.
From6 April 2023, we will also see changes to the ‘basis period’ rules for self-employed individuals that prepare accounts to a date other than 31 March or 5 April, with a number of considerations and choices to be made beforehand.If you are self-employed and your accounting date is not 31 March or 5 April, we will be able to advise you.
MTD for Income Tax for partnerships and limited companies will follow at a later date, and we will keep you informed of any news that affects you.
Our tax services make sure that your tax liability is calculated taking into account all allowed exemptions and deductions. We simplify the process by using accountancy software to accurately complete tax returns and calculate any tax liability that may occur, along with any payments that need to be made.
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Corporation tax reliefs and rates change annually, so we ensure that we can provide all the right guidance and advice when looking at exemptions, allowances and deductions that may be available.
We will thoroughly review and prepare corporation tax returns in great detail in order to ensure you are complaint and that you don’t incur any penalties.
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You may be looking at investments, a second property or another asset and our team can make sure you maximise your exemptions while simplifying the difficult area of capital gains tax.
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We can help with the complex issue of personal tax, we know it can be difficult to understand, which is why we help every step of the way. We take away the time and stress by creating a tax planning strategy that suits your tax affairs, helping ensure you pay the least amount of tax. Our team will advise when payments are due along with what forms need to be filed and returned to keep you compliant.
LHA Accountancy Services provide the following key services.
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Latest news from LHA Accountancy Services
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A new GOV.UK service allows businesses and individuals to find out whether their address is due a broadband upgrade. By entering your postcode, you can see whether your premises or home is covered by rollout plans.
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The Office for National Statistics (ONS) has reported that gross domestic product (GDP), a measure of how the economy is doing, showed zero growth in January, following growth of 0.1% in December 2025.
An independent report, commissioned by the Welsh government, has examined potential future options for income tax devolution in Wales. It compares keeping the current partially devolved system with moving to full devolution, while factoring in the effects of the block grant adjustment (BGA).
Have you reached a point where the idea of running a business feels like more than just a pipe dream? Perhaps you have identified a gap in the market, you want greater independence or your side hustle is telling you that it has the potential to become a full-time income.
The end of the 2025/26 tax year will soon be here, which means a few additional tasks to carry out on your payroll, if you run one.
As a pensioner you were likely dismayed to learn that Winter Fuel Payments are now being restricted to those who are on benefits and Pension Credit. The Winter Fuel Payment is a key benefit to help with increased heating costs during winter that was previously paid to all pensioners. However, with recent changes, the payment is now means-tested and linked to eligibility for Pension Credit.
HM Revenue and Customs (HMRC) have issued a press release debunking some common myths about whether or not someone needs to register to complete a self-assessment tax return.
The Prime Minister, Sir Keir Starmer, speaking from Downing Street last Tuesday, has said that the budget in October will be “painful” and the government would be making “big asks” of the country.
A recent report by the British Chambers of Commerce and Tussell has highlighted the ongoing challenges the public sector faces in meeting its procurement targets for small and medium-sized enterprises (SMEs).
Last month, the Home Secretary, Yvette Cooper, announced a significant government crackdown on employers hiring migrants illegally.
Barratt Developments, the UK's largest housebuilder, has reported a significant decline in pre-tax profits, down by three-quarters for the year ending June 2024. This comes as the company completed just 14,000 homes, a sharp decrease from 17,000 the previous year, with forecasts suggesting even lower figures of 13,000 to 13,500 homes for the upcoming year.