Making Tax Digital – small steps

A new and longer-term timetable for the Making Tax Digital project has been announced today.

This is excellent news and seems a much more realistic timescale. Currently, 2019 will signal the first move into the digital regime, but only for businesses trading about the VAT threshold (£85,000 income per year). Requirements for others to join the regime will be later, the record-keeping requirements are being relaxed, and some aspects of MTD will be voluntary for the smallest businesses.

There is a link to the announcement on the right under Tax Links in MTD latest.