Since Making Tax Digital (MTD) was announced, from April 2019, HMRC is fundamentally changing the way taxpayers and HMRC report and process accounting data.
Our MTD blog will guide you through these fast approaching changes, and help you determine if MTD applies to your business. It also provides practical advice about what you need to do – and when you need to do it – if so.
Find out more below.
The latest from our Making Tax Digital blog:
6 Dec 18: The House of Lords and leading accountancy bodies have requested a delay to the Governments Making Tax Digital (MTD) scheme by at least 12 months.
25 Oct 18: HMRC announce a deferment of implementation for some.
28 Sep 18: HMRC have published Making Tax Digital Research – Attitudes, Behaviour and Engagement.
21 Aug 18: Guidance on for VAT registered businesses.
1 Mar 18: Update on Making Tax Digital. Reminder and pilot test registration.
14 Sep 17: What does it mean for MTD?
14 Jul 17: New financial secretary to the treasury slows MTD implementation timetable.
23 May 17: Some areas of the MTD project still haven’t been addressed.
16 May 17: With electioneering for the General Election in full swing, where are we now with MTD?
26 Apr 17: Much of the most complex legislation is being dropped, including Making Tax Digital clauses.
21 Apr 17: How will the snap election affect MTD?
3 Mar 17: What do people want from Philip Hammond’s first Budget?
7 Mar 17: HMRC face pressure to provide information on costs of MTD.
9 Feb 17: The first pieces of draft legislation have recently been published in response to to MTD consultations.
9 Feb 17: HMRC have published proposals to undertake a year-long pilot of the MTD programme.
20 Jan 17: The problem with MTD is that it implies that your hand is being forced; that you are being ’made’ to do something.
The Government’s plans for MTD came under considerable criticism in 2016, and it looks like 2017 will be no different.
Conservative MP Andrew Tyrie, has suggested a delay in the implementation of MTD “until at least 2019/20″.
Our tax specialist, Graham Boar, recently wrote to his local MP highlighting his concerns with MTD.
There has been a further update on MTD. Find out more here.
Let’s look at the positives for MTD. You will now be able to take control of your finances and make informed decisions.
MP Mr Tyrie has conveyed concerns heard from the Federation of Small Businesses highlighting the introduction of MTD should not be rushed.
We look at how rural businesses will be affected by Making Tax Digital.
On 14 December 2015, HMRC published their roadmap document ‘Making Tax Digital’, setting out their plan for the digitisation of the tax system.
The Government’s flagship policy of Making Tax Digital (MTD) is attracting attention from politicians, civil servants, businesses and professional advisers alike.