Making Tax Digital
Making Tax Digital (MTD) for Small Business
Making Tax Digital is the most fundamental change to the way UK tax is administered for many years. Deadlines have already been put back a couple of times and now there is a lot of pressure on HMRC to get on with it.
MTD is a rolling program which will run for several years. Over a period of years, all tax reporting and calculations will be subsumed by the MTD project and businesses will be forced to keep digital records and generate their tax returns directly from these records.
The good news is, Powered Now is MTD ready, so short of doing your VAT returns you are covered.
We’ve created a website to help navigate Making Tax Digital.
Did you know?
Making Tax Digital was supposed to launch in the UK in 2018, however it was put back to 2019?