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Making

MAKING TAX DIGITAL EXTENDED

HMRC’s flagship Making Tax Digital online quarterly reporting is being significantly extended with legislation proposed in the Finance Bill 2020-21 bringing all VAT registered businesses into the system from April 2022 and extending it to include income tax self assessment from April 2023. 

Making tax digital

The current tax year, 2017-18, is the last year we have to prepare for the advent of the new reporting system, Making Tax Digital for Business (MTDfB). Following the recent budget, it is now clear which businesses are going to be affected and when. Dates for implementation will be:

Making tax digital

The current tax year, 2017-18, is the last year we have to prepare for the advent of the new reporting system, Making Tax Digital for Business (MTDfB). Following the recent budget, it is now clear which businesses are going to be affected and when. Dates for implementation will be:

Making tax digital to be delayed?

  The Treasury Select Committee has reviewed the proposals for the introduction of “Making tax digital” (MTD) and have agreed with the various professional bodies that if the new systems are introduced too quickly there could be a disaster.

Making tax digital to be delayed?

  The Treasury Select Committee has reviewed the proposals for the introduction of “Making tax digital” (MTD) and have agreed with the various professional bodies that if the new systems are introduced too quickly there could be a disaster.