Making Tax Digital - An Update for Taxpayers and Businesses
29 August 2017
The start date for the implementation of MTD has been pushed back following the Prime Minister's decision to call a snap General Election, but switching to digital tax accounts is still going ahead.
Making Tax Digital will ultimately change the way the majority of businesses keep their accounting records and how they report their income to HMRC. The roll-out for the implementation has not been smooth but it is coming.
Businesses, self-employed people and landlords who earn more than £10,000 a year are due to be affected, however, under the new timeline, MTD will only affect those with a turnover in excess of the VAT threshold.
Read our 'Managing the Digital Revolution' document for more details. It is important that you start preparing for the upcoming changes such as accounting software, cyber security, etc and keep an eye on developments. Contact us about managing the change to MTD.