Making Tax Digital is a key part of the government’s plans to make it easier for businesses to get their tax right and keep on top of their affairs.
The changes have been introduced as follows:
- Businesses over the VAT turnover threshold of £85,000 will have to report quarterly for VAT purposes from April 2019.
- Businesses will not be required to record or report income tax, NICs or corporation tax until at least 2020.
- Businesses will be able to move to the digital system but on a voluntary basis.
Contact us for further information and help.