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Making Tax Digital!

Ten Facts You Might Not Know About Stamp Duty

There have been a lot of whispers over the last year concerning HMRC’s plans to “Make Tax Digital”, and it appears that they are set to go ahead with their initial plans from April 2018.

The proposals will initially affect sole traders and buy-to-let landlords, who will need to start reporting their earnings quarterly, although there are likely to be exemptions for those with a turnover of less than £10,000.

For a more detailed explanation of the proposals, please see the current HMRC guidance here.

Nothing is yet set in stone, and further guidance is expected to be released in July.