Making Tax Digital (MTD)Guidance and support for transitioning to a digital tax system.

Making Tax Digital (MTD) is a key part of the HM Revenue and Customs (HRMC) plans to simplify and transform the tax system.

The MTD affects how businesses in the UK maintain their accounting and tax records. It was implemented on 1st April 2019, and applicable to businesses with a turnover more than £85,000. Businesses such as these are required to submit their VAT Return to HMRC by using MTD compliant software. In April 2020, the MTD scheme was extended to individuals and landlords.

With the Making Tax Digital reform changing the way all businesses report their financial details, we at TAXCA are here to assist them.