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Making Tax Digital

MTD - Making Tax Digital - Making Tax Digital for VAT - Making Tax Digital for Income Tax

Making Tax Digital is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs.

HMRC’s ambition is to become one of the most digitally advanced tax administrations in the world. Making Tax Digital is making fundamental changes to the way the tax system works – transforming tax administration so that it is:

  • more effective
  • more efficient
  • easier for taxpayers to get their tax right

 

Making Tax Digital for VAT

Many VAT-registered businesses with a taxable turnover above the VAT threshold are now required to use the Making Tax Digital service to keep records digitally and use software to submit their VAT Returns.


Making Tax Digital for Income Tax

Some businesses and agents are already keeping digital records and providing updates to HMRC as part of a live pilot to test and develop the Making Tax Digital service for Income Tax. If you are a self-employed business or landlord you can voluntarily use software to keep business records digitally and send Income Tax updates to HMRC instead of filing a Self Assessment tax return.

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Office 1: 109 Coleman Road, Leicester, LE5 4LE
Office 2: 1A Salisbury Road, Leicester, LE1 7QR
Office 3: 85 Tottenham Court Road, London, W1T 4TQ
Phone: 0116 246 4152
Fax: 0116 276 8452

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