At LT Accounting, we recognise that keeping up-to-date with the latest accountancy news and regulatory changes is not merely a requirement—it’s a strategic edge for your UK business. Our knowledge hub is committed to delivering the most current and influential accounting insights, trends, and updates.
What is CIS? Overview for Contractors
What is CIS for Contractors The Construction Industry Scheme (CIS) is a tax regime introduced by HMRC to regulate payments made to subcontractors working in the construction industry. The CIS applies to both contractors and subcontractors and outlines the rules on how payments for construction work should be handled, specifically [...]
Making Tax Digital (MTD) FAQs Answered by Experts
Let our Experts answer your Making Tax Digital FAQs As the UK government continues to modernise the tax system, Making Tax Digital (MTD) has become a critical initiative for businesses and individuals alike. MTD aims to make the tax process more efficient, effective, and easier for taxpayers by requiring [...]
Understanding the Deadlines for Making Tax Digital
Understanding the Making Tax Digital Deadlines is critical, MTD is a pivotal initiative by the UK government aimed at modernising the tax system, making it more efficient, accurate, and simpler for taxpayers to get their tax right. Implemented by HM Revenue and Customs (HMRC), MTD requires businesses and individuals to [...]
Making Tax Digital and Data Security: Keeping Your Information Safe
Introduction Overview of Making Tax Digital (MTD) The shift towards a fully digital tax system is reshaping how businesses and individuals in the UK manage their financial obligations. At the forefront of this transformation is the government’s initiative, Making Tax Digital (MTD), which aims to modernise the tax system, making [...]
How Making Tax Digital Impacts the Construction Industry Scheme (CIS)
Making Tax Digital (MTD) and CIS In recent years, the UK government has introduced several reforms to modernise and streamline the tax system, with Making Tax Digital (MTD) being one of the most significant. It is important as a contractor or subcontractor to understand how MTD Impacts CIS. MTD aims [...]
Making Tax Digital Software: Choosing the Perfect Solution for Your Small Business
Introduction to Making Tax Digital (MTD) What is MTD? Making Tax Digital (MTD) is a UK government initiative introduced by HM Revenue and Customs (HMRC) to modernise the tax system. By requiring businesses and individuals to maintain digital records and submit tax returns through compliant software, MTD aims to reduce [...]