Making Tax Digital (MTD)
Making Tax Digital (MTD) is part of the government's plan to make it easier for businesses to stay on top of their day-to-day accounts, improving efficiency, accuracy and ease of compliance.
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What MTD means to you
Digital VAT
Only VAT registered businesses will need to keep digital records and only for VAT purposes.
Start Date
They will only need to do so from April 2019.
Record Timeline
Businesses will not be asked to keep digital records, or update HMRC quarterly for other taxes until at least April 2020 (originally, this was April 2019).
Cloud Migration
Any business can begin to migrate to the cloud now to benefit from cloud accounting technology so we would encourage you to consider your options and have a plan in place.