What is Making
What YOU and your clients
need to know.
Making Tax Digital is HMRC's plan to become one of the most digitally-advanced tax administrations in the world. This means that big changes are needed to our current tax system, affecting both how data is collected and how it is stored by HMRC.
MTD will apply to VAT, Income Tax and eventually Corporation Tax affecting the majority of businesses and, therefore, agents over the next few years.
If you are a business, or have clients, who are VAT registered, you should already be familiar with MTD.
Mandation for VAT for businesses with turnover above the VAT registration threshold (£85,000) started with the first VAT period falling on or after 1 April 2019, the remaining businesses below the threshold joined for periods falling on or after 1st April 2022.
Click on the links below to find out more.
Download our SimpleStep® guide to MTD Readiness
Your MTD action plan. Compiled using input from a brain trust of real accountants, offers you a comprehensive action plan to get you from now through to April 2024.Download