Making Tax Digital (MTD)
The financial world is no stranger to change but this transformation in tax reporting is the UK's biggest shake up in a generation!
HMRC is moving towards a fully digital tax based system which means that every business will need to report to HMRC in a digitally-compliant way.
MTD will be introduced in stages and your annual taxable turnover will determine when you need to start taking part.
As a business owner, you will be making many decisions about the structure and operation of your business. Dealing with tax matters is one of those critical matters which has to be top of your list. Firstly, the deadlines are imposed by HMRC so there is little or no flexibility about adhering to these deadlines. Secondly, it is a sign of good business management to ensure that your tax matters are in place.