Making Tax Digital for Business

Making Tax Digital for Business


Introduction

VAT registered businesses with a taxable turnover above the VAT threshold (£85,000) will be mandated to keep digital VAT records and send returns using Making Tax Digital (MTD) compatible software from April 2019.

Following last year’s ministerial announcement, MTD will not be mandated for other taxes until at least April 2020, but businesses can get involved in the Income Tax pilot now on a voluntary basis.




    • Related Articles

    • Making Tax Digital for VAT

      Making Tax Digital explained Making Tax Digital for VAT requires VAT registered businesses with taxable turnover above the VAT registration threshold to keep records in digital form and file their VAT Returns using software. It is increasingly common ...