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Making Tax Digital (MTD) is the government's initiative to implement a fully digital tax system in the UK, whereby taxpayers keep digital records and use MTD compatible software to make tax submissions electronically.
Making Tax Digital is a major change in the way self-employed individuals and landlords in the UK manage and report their taxes.
As the budget announcement on October 30th approaches, individuals and businesses alike are gearing up to understand how the upcoming financial plans will impact their economic landscape.
The Spring Budget was void of huge surprises, but we have summarised the key points for Small Businesses below so you have a short summary specific changes that may effect you:
The Chancellor, Jeremy Hunt, presented his Autumn Statement on 22 November 2023, focussing on five areas: reducing debt, cutting tax, and rewarding hard work, backing British business, building domestic and sustainable energy and delivering a world-class education.
The Chancellor, Jeremy Hunt, presented his Spring Budget on 15 March 2023.
A Brief overview of the Government's Mini-Budget
In response to the various concerns voiced with regard to the present cost of living crisis, the Chancellor, Rishi Sunak, announced a raft of support measures in Parliament 26 May 2022. This update summarises the grants and other financial support packages provided to counter these concerns.
Since Andrew has come on board under the supervision of Mike the transition could not have been smoother. The service and response has been well above expectations. We feel the Payroll services provides an additional backup service provided by Kings Oak Accountancy which takes away yet another task from our busy workload.
Mujib Choudhury, Atlantic Linen
Great to work with, always there to give a hand when needed. Always at the end of the phone when problems need sorting We have been with this Company for many years, would recommend . Running my accounts and PAYE, so this leaves us to concentrate on getting on with our business with no worries.
Sarah – Crossways Tavern
Thank you Andrew. Bloody brilliant. I cannot say how much I appreciate that you’ve made this easy. In amongst trying to get everything else done this was a breeze. Thanks.
Stephen - SJL Data Services Ltd
Kings Oak Accountancy Services has been our accountants for the past four years. After a successful smooth changeover of ownership to our dry cleaning premises which Kings Oak guided us through. Since then they have helped with our monthly and yearly accounts, taxation and payroll. Only a phone call away if needed. May we continue to grow with their help. I would have no hesitation in recommending them.
Beverley Serle - Steam Gleam Ltd
Wouldn't trust anyone else to help us run our business. Andy and team are fast, reliable, efficient and most of all they actually care. They go above and beyond to help and we couldn't be happier.Thank you for all you do
Jen and Adam - Heat 24 Ltd
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