Confused or bemused by HMRC’s Making Tax Digital (MTD)? What does Making Tax Digital really mean? How will it affect you? Does MTD mean quarterly reporting? Is my business exempted from Making Tax Digital?
- On 13 July 2017 the government announced that MTD would be delayed for business until 2020, with the exception for VAT registered Businesses
- Updated timetable for MTD:
- 2019: VAT registered business are mandated into MTD
- 2019/2020 all businesses may try MTD on a voluntary basis
- 2020: non-VAT registered unincorporated business and landlords join MTD
- 2020+ ? Companies and Large Partnerships to join MTD
- Note that the digitally excluded and micro businesses (t/o <£10,000) are excluded from MTD
Feel free to download our handy slides on how MTD will impact your business.
Contact LeeP on 01733 699033 or email [email protected]