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Legislation Day 2020

Read the ICAEW’s reaction and analysis of all the announcements on 21 July 2020

Roadmap announced for Making Tax Digital

21-07-2020

21 July: MTD for VAT extended to all VAT-registered businesses from April 2022, with income tax quarterly reporting applying from April 2023. Corporation tax will be consulted on later this year.

Tax change could prevent small business losing out in future

21-07-2020

21 July: The Office of Tax Simplification and Treasury Select Committee, respected influencers of tax change, make similar recommendations to change the taxation of small businesses and redress the issues highlighted in recent months.