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Next Steps for Making Tax Digital

Making Tax Digital (MTD) was launched in April 2019 for VAT. Now, hundreds of thousands of VAT-registered businesses who are above the VAT threshold of £85,000 are recording and reporting their accounts digitally to HM Revenue & Customs (HMRC).

Farmers see a decline in their income

The latest figures from the Department for the Environment, Food and Rural Affairs (Defra) show that UK farmers’ income decreased by 17 per cent last year and the sector’s contribution to the economy fell by six per cent to £9.6 billion. Moreover, Total Income From Farming (TIFF) decreased by 17 per cent to £4.6 billion.