Self employed and earn over £50k? Changes are coming to your Income Tax return. | HMRC | Facebook
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Think Making Tax Digital for Income Tax means more tax returns? Think again. 📒You’ll send quarterly updates of income and expenses to HMRC from recognised software 💻These updates aren’t tax returns 📅You won’t pay four tax bills a year Find out what it means for you and how to prepare: 👇 https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd | HMRC
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The Making Tax Digital countdown is on - in just over 4 months, sole traders and landlords with turnover above £50,000 will need to: ✔ Keep digital records using recognised software ✔ Send quarterly updates ✔ Submit their annual tax return by 31 January Don’t leave it to the last minute – check what’s changing and how to get ready: https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd | HMRC
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Worried about the cost of Making Tax Digital? Did you know there are free options available? If you’re a sole trader or landlord and have turnover of more than £50,000, you’ll need to use recognised software to keep digital records of your income and expenses. Find out more about Making Tax Digital and what software’s available: 👇 https://makingtaxdigital.campaign.gov.uk/making-tax-digital-software/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd&utm_content=software | HMRC
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