Making Tax Digital
Making Tax Digital is the Government’s programme to move all personal and business tax online. Originally starting in 2017, and due to complete in 2020, Making Tax Digital (MTD) has been deferred for a year but will potentially affect all of us.
For businesses with turnover over £85,000, quarterly online submissions were to have been made from April 2018.For all other businesses with turnover between £10,000 and £85,000, submissions would apply from April 2019.There are exceptions for those with genuine difficulty getting online. For the majority however it will be compulsory, unless the imminent election reverses the legislation. HMRC has been poor in communicating its plans, so watch this space