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Farm Business
Agricultural Matters
Making tax digital - beta trial
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<blockquote data-quote="Goweresque" data-source="post: 3500752" data-attributes="member: 818"><p>I think they are getting worried about the number of 'ordinary' people who are starting to have income from multiple sources and need to be on self-assessment. Historically people were either PAYE or self employed, and few had mixed incomes. Now people are increasingly buying Buy to Let houses and other income generating assets prior to retirement or have significant savings income while still in employment, and thus are falling into the SA system. This is more aimed at those people than true business owners who have always been used to dealing with HMRC. The aim being to get such people a simpler system than SA to calculate their tax bills - hence why the examples they give on the HMRC website are as much about people with mixed income sources than just business income.</p></blockquote><p></p>
[QUOTE="Goweresque, post: 3500752, member: 818"] I think they are getting worried about the number of 'ordinary' people who are starting to have income from multiple sources and need to be on self-assessment. Historically people were either PAYE or self employed, and few had mixed incomes. Now people are increasingly buying Buy to Let houses and other income generating assets prior to retirement or have significant savings income while still in employment, and thus are falling into the SA system. This is more aimed at those people than true business owners who have always been used to dealing with HMRC. The aim being to get such people a simpler system than SA to calculate their tax bills - hence why the examples they give on the HMRC website are as much about people with mixed income sources than just business income. [/QUOTE]
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