Despite what you might think, the HMRC is constantly trying to make 'meeting your tax obligations' easier. It wants to help you keep better track on how much tax you owe - or might be owed - and will, therefore, be introducing quarterly updates for many tax payers, including the self-employed, property landlords and companies.
Does that include you?
From April 2018, small businesses and individuals with turnover exceeding £85,000 will be expected to move from annual tax returns to quarterly reporting.
For business with turnover below £85,000 digital quarterly reporting will start in April 2019
The above dates are subject to change depending on the outcome of the General Election on 8th June.
