Anna’s Accountancy Alerts – Week 45 (6th – 12 February 2023)

Anna’s Accountancy Alerts - Week 45 (6th - 12 February 2023)

text to speech

MTD for ITSA delayed for two more years

The Treasury has announced that Making Tax Digital for income tax self assessment (MTD for ITSA) will be delayed for two more years until April 2026.

The mandation of MTD for ITSA will now be introduced from April 2026.

Businesses, self-employed individuals and landlords with income over £50,000 will be required to join first.

From April 2027, those with income over £30,000 will be mandated to join.

Government extends mortgage guarantee scheme

The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023.

Under the scheme, the government offers lenders the financial guarantees they need to provide mortgages that cover the other 95%, subject to the usual affordability checks, on a house worth up to £600,000.

Launched in April 2021, the scheme has already helped over 24,000 households. It was originally planned to close at the end of this year but will now be extended until the end of 2023.

Find out more on the HM Treasury website.

Chancellor announces Spring Budget date

Chancellor Jeremy Hunt has announced that the Spring Budget will be delivered on 15 March 2023.

Keep up to date with all things Accounting and Finance with my bi-weekly Accountancy Alerts. 

Stay Up-To-Date With Coronavirus & Brexit News

Coronavirus has affected us all. Whether you’re a sole trader, employer or employee. Stay up to date with the latest news – including government support, tax implications, and more.