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RADIATORS
the UK, can be added inside the Low-H2O radiator. DBH is a pioneering technology utilising small, quiet electric thermal
activators to increase airflow and significantly boost radiator output without increasing radiator size. In fact, it means the radiators can be even smaller. In a world-first for radiators, DBH can automatically switch between heating and light cooling modes, providing the heating system can supply cooling water. This method of non-condensing cooling is much more environmentally friendly than air conditioning, using less energy and no F-gas, so it’s a perfect solution for a comfortable indoor climate all year round. DBH can easily be retrofitted – you can install regular Low-H2O radiators
The Jaga Strada energy-efficient Low-H2O radiator
can save up to 16% on energy bills
boilingpoint T
Making tax digital
he Making Tax Digital (MTD), initiative was identified back in 2015 as a key part of the Government’s plans to make it easier for individuals and businesses to get their taxes correct. Here a reminder of what it means from APHC chief executive, John Thompson. The HMRC’s ambition is to become one of the most digitally advanced tax administrations in the world. So,
MTD aims to make fundamental changes to the way the tax system works – transforming tax administration so that it is: • more effective • more efficient • easier for taxpayers to get their taxes correct. The areas of the taxation system covered by MTD will over time include – • Value Added Tax (VAT) • Income Tax • Corporation Tax The current position on the implementation of the MTD initiative is as
follows: Making Tax Digital for VAT
From 1st April 2021 VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) were required to follow the MTD rules. If your business is VAT registered and below the £85,000 turnover threshold then registration to MTD on 1 April 2021 was voluntary.
The next stage in developments is that any VAT-registered business with a taxable turnover below £85,000 will be required to follow Making Tax Digital rules for their first return starting on or after 1 April 2022.
Making Tax Digital for Income Tax
now, and when the time comes to switch to a heat pump, DBH can be retrofitted to turn it into a hybrid. Or you can install Low-H2O Hybrids now to work with an existing gas or oil boiler. You can turn the boiler to its lowest water temperature to get it working as efficiently as possible. This way you can start saving money on energy bills and your installation will be completely future proofed, enabling the switch over to an emission-free installation with a heat pump at any time without having to make any changes to the radiators, heat distribution or pipes.
Businesses with annual business or property income above £10,000 will need to follow the rules for Making Tax Digital for Income Tax from 6 April 2024. At present there are a number of businesses that are already keeping digital
records and providing updates to HMRC as part of a live pilot to test and develop the Making Tax Digital service for Income Tax. Member businesses can voluntarily sign up to Making Tax Digital for Income Tax instead of filing a Self Assessment tax return as part of the pilot initiative – details are available on the HMRC website.
Making Tax Digital for Corporation Tax
In late 2020, the Government published a consultation document on the future design of Making Tax Digital for Corporation Tax. The consultation closed in March this year and further detail is presently being worked through. The latest Government position is that it will provide businesses with an opportunity to take part in a pilot for Making Tax Digital for Corporation Tax and will not mandate its usage before 2026.
Some Frequently Asked Questions – what’s involved in Making Tax Digital?
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What records do I have to keep? You’ll need a software package which can keep digital records of your
finances that is in turn compatible with the HMRC system. The HMRC Making Tax Digital website includes detail of what software packages are compatible with its systems.
Do I need to register with HMRC for Making Tax Digital? Yes you do. There’s a separate registration process required for each part of the taxation system i.e. VAT, the Income Tax pilot and ultimately Corporation Tax (when launched).
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Does my business have to gear up for this or can I use a third party? It’s possible to employ the services of an agent or accountant who can to a
greater or lesser extent compile and process your digital records and can then upload them on your behalf to the HMRC website. One of the many benefits of membership of the industry’s employer trade association in England & Wales is up to date information surrounding the latest legislative changes. For more information on what benefits trade association membership can bring please go to -
www.aphc.co.uk/ membership-benefits/
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