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Making Tax Digital

The Government are introducing a new digital tax system, that will make administration of tax more efficient and easier. It will become mandatory for almost all businesses and landlords (self-employed, partnerships and limited companies) to use software or a spreadsheet to keep accounting records. Paper accounting records will cease to meet the requirements of tax law. There will be a requirement to submit updates to HMRC each quarter directly from accounting software, within one month of the end of each quarter.

Start dates for MTD:

  • April 2019 – Vat Registered business must be compliant.
  • April 2020 – Non-Vat registered business and landlords must be compliant.

Businesses operating as a Limited Company will have to be compliant from 2020 onwards but final dates have not yet been confirmed.

Micro Businesses with a turnover below £10,000 will be exempt


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