The April deadline for Making Tax Digital is rapidly approaching so we all need to be prepared, which includes using a software programme compatible with HMRC. Making Tax Digital will help bring the tax system into the 21st century by providing businesses with a modern, streamlined system to keep their tax records and provide information…
Tag Archives: MTD
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Making Tax Digital – Be Ready
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Making Tax Digital: MTD for VAT
From April 2019 all VAT registered businesses with a taxable turnover above the VAT threshold of £85,000 will be required to: Maintain their accounting records digitally in a software package or on a spreadsheet. Paper records will no longer meet the legal requirements in tax legislation. Submit their VAT returns to HMRC using MTD compatible…
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Making Tax Digital or MTD
You may have heard or seen stories relating to some major changes that have been proposed by the government and H M Revenue and Customs. So what is MTD? It is a bold and innovative initiative to bring the UK tax system up to date for the new digital age, or so ‘they’ say. They…
