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UK Tax Rules Require Digital Filing for Higher-Income Traders

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5 frågor
What specific criteria determine if a taxpayer with £50,000 of gross annual trading and/or rental income is automatically exempt from the new Making Tax Digital rules?
How many Britons are estimated to be affected by the new Making Tax Digital rules for the £50,000 income bracket in the 2024/25 tax year?
What approved software options are available for taxpayers to use for the quarterly filings under the Making Tax Digital scheme?
What are the exact penalties for not keeping records at all under the new rules, and how do they compare to existing penalties for late filing or payment?
What are the details of the additional allowance and lower tax rate for business and agricultural assets brought into inheritance tax scope in April 2024?
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