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Key dates and reminders

  • MTD VAT – from 1 April 2022 all VAT-registered businesses will be required to keep their VAT records digitally and send their VAT returns using compatible software regardless of their turnover
  • MTD Income Tax – from April 2023 MTD for income tax will apply to any unincorporated business, or person who is self employed and/or a landlord, with a gross annual income of over £10,000
  • MTD Corporation Tax – from April 2026
  • Capital Gains Tax (CGT) – 30 day deadline reminder. UK-resident individuals disposing of residential property after 6 April 2020 must now tell HMRC in cases where CGT is due and pay within 30 days from completion.
  • Stamp Duty - from 30 June, the threshold was reduced from £500,000 to 250,000 and will return to its pre-pandemic level of £125,000 on 1 October 2021.

Written August 2021.

Strength in Numbers

Summer 2021

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