Making Tax Digital
Making Tax Digital: reviewing the new requirements
Making Tax Digital for VAT (MTD) ushers in mandatory new requirements from 2019 and represents one of the biggest changes to the UK tax system in decades, with digital advances launching it into the 21st century.
The change isn’t just about VAT: MTD affects the very way that businesses maintain accounting records. In the attached factsheet, we outline how we can help you plan for compliance. We have also provided some handy FAQs.
To ease the impending compliance burden, it is important that you consider how your business currently keeps records and files returns. Any business not using digital accounting records will need to go digital as soon as possible.