2 min read: ARC LEGAL BOLSTERS PARTNERSHIPS MANAGEMENT TEAM WITH NEW HIRE
Arc Legal Group (Arc Legal), part of the AmTrust Financial Group, a specialist provider...
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While the programme is still two years away, it will be worth the wait as MTD will completely end the need to submit annual tax returns. In addition to simplifying self-assessments, MTD will also provide taxpayers:
MTD will also provide greater awareness of how much tax a person owes, so they can avoid setting aside more money than they need, or importantly, not allocating enough.
MTD for Income Tax will first be introduced in April 2026 and will continue to rollout through April 2027. However, this will only apply to individuals with earnings surpassing £50,000 (later revised to £30,000) from their businesses or properties. If income from these channels falls below these thresholds, a person can opt to persist with the current Self-Assessment system.
Transitioning to a new tax system can be daunting, but there are four simple steps you can take to prepare for the new programme:
We understand that self-assessments can be complicated, and the financial implications of any subsequent investigation can be massive. Arc Legal offers Tax Protection insurance under our Assistance product and services offering and is available as part of our Legal Expenses Insurance solution, or as a stand-alone product.
Tax Protection insurance cover includes a dedicated Tax Helpline manned by a team of accountants who can help policyholders with their tax queries. The policy also covers both the accountants and the customer’s legal fees if they are subject to investigative action by Inland Revenue & HM Customs and Excise.
Rumel Ahmed, Partnerships Development Manager, Arc Legal Group
Find out more about Arc Legal’s Tax Protection cover here, contact Rumel Ahmed on 07725 758377 or email rumel.ahmed@arclegal.co.uk.
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