Making Tax Digital (MTD) is one of the most significant changes to the tax system since the introduction of Self-Assessment more than 20 years ago. VAT registered businesses with a taxable turnover above £85,000 are the first to be affected with effect from April 2019 when the filing of VAT Returns digitally, either directly from compatible accounting software or via bridging software, will become mandatory. MTD for Income Tax and Corporation Tax is expected to follow, but not before April 2020.
For answers to some of the most common questions that we have been asked, please click here.
We will be working closely with clients and contacts to ensure they are fully prepared for the arrival of MTD. If you would like to discuss MTD and the implications for your business please contact us.
Please visit our Software Services page which includes details of some of the many software packages we support, to help you stay ahead and deal with the requirements of Making Tax Digital.
Thank you for reading this article. To receive more similar information, guidance on other areas of interest, or to arrange a follow up, please record your details here.