MTDfV begins with the first accounting period starting on or after 1 April 2019. Only those businesses whose turnover is above the VAT registration threshold are mandated to join, although voluntarily-registered businesses may also join if they choose. However, any business operating at around the registration threshold will also need to be aware of developments – and monitor turnover closely - as newly-registered businesses will be required to be MTD-compliant from day one of VAT registration.

Elsewhere, we consider the government consultation on compliance with the IR35 ‘off-payroll working’ rules in the private sector. Many commentators envisage that changes in the public sector, which were introduced in April 2017, are likely to be brought in on the back of this enquiry. HMRC states that the result of the consultation is not a foregone conclusion. Our article looks at some of the implications of the current discussion.

We also draw attention to the many opportunities available to taxpayers to structure their affairs efficiently in the current tax year. These can arise, for instance, when disposing of a capital asset, reviewing pension plans or considering investments such as an Individual Savings Account.

In our other articles, we examine:

  • the stamp duty implications of property purchase across English, Welsh and Scottish borders
  • employee rights to shared parental leave and pay on the arrival of a new baby
  • new penalties for UK taxpayers who have not told HMRC about foreign income or gains which may be liable to tax in the UK
  • Enhanced Capital Allowances.

We are sure you will find the newsletter an interesting read. Please contact us if you have any questions regarding any of the articles we have included in our newsletter or if you would like further information on a topic we haven’t covered. Your views are always important to us and we would welcome your feedback.