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This quarter we provide an update on the government’s new timetable for the roll-out of the Making Tax Digital for Business (MTDfB) programme. HMRC is now allowing a longer period for most businesses to prepare for change. Initially, MTDfB will apply only to businesses whose turnover is over the VAT threshold. These new rules will apply from April 2019.
We also comment on the new Tax-Free Childcare scheme currently being phased in.
Elsewhere in the newsletter, we consider a couple of points relating to property purchase.
The first is in regard to ‘off plan purchase’ of property, that is buying a property, often an apartment, before it is constructed and how this can interact with the capital gains tax rules. A significant case was heard at the First-tier Tax Tribunal on this point, and we examine its importance in our article.
The second considers the role of Lifetime ISAs in buying a first home. This is a form of investment open to adults below the age of 40, and in the article we compare the advantages presented by the Lifetime ISA with those of the Help to Buy ISAs.
In our other articles, we look at:
We are sure you will find the newsletter an interesting read. Please contact us if you have any questions regarding any of the articles we have included in our newsletter or if you would like further information on a topic we haven’t covered. Your views are always important to us and we would welcome your feedback.
06 May 2025
Sole traders and landlords with an income over £50,000 have been warned that there is less than a year before they will be required to use Making Tax Digital for Income Tax (MTD for IT).
The independent review into the loan charge has issued a call for evidence with examples of promotional material and marketing leaflets a priority for the review team.
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