MTD for Income Tax (Webcast)

Making Tax digital for Income Tax continues to be developed apace with the pilot reopening in April 2022 and businesses and landlords facing mandation from April 2024. This session will look in depth at the requirements of the new regime and suggest implementation strategies for practices with a mixture of clients. The technical content will be based on the Regulations which were issued in September 2021.

• MTD for income tax – the detailed requirements of the Regulations; the context from the primary legislation
• MTD for ITSA in practice – the bare bones of the requirements; how what we do now will be different
• Technical detail – digital start date; the digital requirements; the income threshold and how it works; quarterly updates; EOPS; Crystallisation; how many obligations are there?
• Implementing MTD – digital record keeping requirements; getting away with the minimum; issues for landlords; digital exclusion
• Penalties for failure to comply – what will they look like? Proposed commencement dates; how will they work in detail?
• Joining the pilot – When? Who? Why?

Rebecca Benneyworth is a lecturer and writer on a variety of tax matters. She has her own practice in Gloucestershire, and was named tax lecturer of the year at the Lexis Nexis Taxation awards in May 2007. She is also Tax Editor of AccountingWEB.co.uk.