HMRC’s flagship programme to move all its tax services online, has seen many stops and starts over the years. So where are we up to now with Making Tax Digital?
Taxpayers can already use their online Business Tax Account for their dealings with HMRC but it is not currently essential. This is set to change with Making Tax Digital.
From 1 April 2019, certain businesses will be required to comply with the government’s new Making Tax Digital (MTD) regime. MTD represents a significant change to the way taxpayers keep their accounting records and submit information to HMRC. Will you be affected? And what should you do to be compliant?
The government’s plans for Making Tax Digital for Business (MTDfB) have dramatically shifted course and businesses will have more time to prepare for the changes.