Posts tagged “Making Tax Digital”

Countdown to Making Tax Digital 
 
Making Tax Digital for VAT (MTD) is only months away, and we understand that MTD may seem like a complex process, therefore we have compiled this article to help you understand the upcoming changes. 
The new changes are set to come into play from 1 April 2019 and will have a significant impact on those that are VAT registered. 
Towards the end of last week, HMRC announced significant changes to the roll-out of its Making Tax Digital scheme (MTD). Businesses will not be asked to keep digital records, or to update HMRC quarterly, for other taxes until at least 2020. Only businesses with a turnover above the VAT threshold will have to keep digital records and only for VAT purposes. They will only need to do so from 2019. 
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