Making Tax Digital for income tax set for 2023

At the end of July, just a day before the Westminster parliament closed for summer recess, the Treasury published a series of policy announcements, including a new schedule for Making Tax Digital (MTD). MTD was one of many policies that had to be set aside as the...

First MTD for VAT deadline goes without a hitch

The first main submission deadline for filing VAT returns through Making Tax Digital (MTD) came and went on 7 August 2019. It affected around 490,000 of the UK’s 1.2 million VAT-registered businesses with annual taxable turnover of more than £85,000. But, according to...

First businesses poised for Making Tax Digital

We are on the home straight as far as Making Tax Digital (MTD) for VAT is concerned, with little over a month to go until the first group of businesses are mandated into the regime. This affects around a quarter of the UK’s 2.67 million VAT-registered businesses,...