Making Tax Digital

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

What does this mean for me?

If you’re using spreadsheets, you’ll either need to use bridging software or start using HMRC-recognised software instead. If you haven’t already, it’s important to take action now. Make sure you’re compliant with MTD for VAT by adopting fully compatible software, keeping digital records and signing up before the VAT deadline. Not sure on next steps? Contact us for more information.

MTD for VAT - April 2022

VAT-registered businesses must use recognised software to keep digital records and submit VAT to HMRC.

MTD for Income Tax Self Assessment - April 2024​

MTD for Income Tax Self Assessment will apply for all self-employed business owners and landlords with annual income over £10,000.

MTD for Income Tax Self Assessment - April 2025

MTD for Income Tax Self Assessment will apply for general partnerships with an annual turnover of over £10,000.

MTD for Corporation Tax - April 2026

MTD for Corporation Tax to be introduced at the earliest.