Making Tax Digital for Income Tax - Q&A скачать в хорошем качестве

Making Tax Digital for Income Tax - Q&A

Last time we looked at Making Tax Digital for Income Tax in the UK. Thank you for all your amazing comments and questions. Today I’m going to try to answer at least some of them and also explain why this might be catastrophic for UK small businesses. Why is reconciliation important?    • What is RECONCILIATION and why is it impor...   Why does the UK tax year start on 6th April?    • WHY does the UK tax year start on 6th APRI...   Previous videos about Making Tax Digital for Income Tax:    • Making Tax Digital - UK self employment is...      • Making Tax Digital for Income Tax - bad ne...   HMRC links: https://www.gov.uk/guidance/sign-up-y... https://www.gov.uk/government/publica... ✔ Help support this channel by joining as a member: https://smallbusinesstoolbox.uk/member/ ✔ Follow me on X: https://smallbusinesstoolbox.uk/yt/x ✔ Support me on Patreon: https://smallbusinesstoolbox.uk/yt/pa... ✔ Newsletter: https://smallbusinesstoolbox.uk/newsl... Here's some affiliate links to services I use or would consider using. If you think they would be a good match for your business please use these links - many include offers exclusive to this channel. Read more about affiliate links at the bottom of this description: 👉 InvestEngine for investments: https://smallbusinesstoolbox.uk/yt/in... 👉 Tide for business banking: https://smallbusinesstoolbox.uk/yt/ti... 👉 SiteGround for web hosting: https://smallbusinesstoolbox.uk/yt/si... 👉 123-Reg for domain names: https://smallbusinesstoolbox.uk/yt/12... 👉 Acronis for data backups: https://smallbusinesstoolbox.uk/yt/ac... ⚠️ Disclaimer ⚠️ This is not accountancy, financial, tax or legal advice. Always use a good accountant and legal / financial professional. If you make an investment your capital is at risk. My opinions are my own and don't necessarily reflect the views of the companies I deal with. I sometimes earn commission from affiliate links - these don’t cost you a penny and help to keep this channel running. Read more about affiliate links here - the fairest way of funding the internet: https://smallbusinesstoolbox.uk/affil... - thanks so much for your awesome support! MTD IT Chapters: 00:00 - Introduction 02:08 - Does it impact sole traders? 02:30 - How do tax rebates work? 03:15 - Is it the same as it's always been? 04:05 - Is this for landlords? 04:25 - What about scams? 05:14 - I'll be retiring 06:17 - Why is it a problem? 07:20 - VAT vs MTD IT thresholds 07:50 - PAYE vs Self Assessment 08:30 - Implications to small business 09:08 - Software issues 11:30 - What are the downsides? 12:25 - What if you're not tech savvy? 13:20 - Wealth tax tangent 15:50 - The VAT / tax cliff edge 23:20 - What about reconciliation? 24:45 - The date problem 29:32 - Why are HMRC doing this? 33:10 - The cloud problem 35:45 - Wrapping up 36:50 - Do you pay tax quarterly? All content on this channel is exclusively owned by MacLellan Creative Limited. Copyright (c) 2025. All rights reserved. #smallbusiness #selfemployed