MTD publications

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Is it time to change the way you do your accounts?

As the world of accountancy is changing by moving into the digital age, it is time to look up and move into the cloud. Learn more.

MTD Update May 2018

A survey by Xero has found that 25% of accountants are still not aware of MTD. Many accountants are concerned about what MTD will mean for businesses and when they must comply. Here are the answers you have been looking for.

Overview of 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 - meaning the end of the annual tax return for millions.

What we know so far about Property Income

Individuals with property income will be required to comply with MTDfB requirements. For jointly owned property, each individual must make a digital record for their share of income and expenditure.

What we know so far about VAT

From April 2019 all VAT registered businesses with turnover above the VAT threshold will be required to maintain digital records and will need to send their VAT information to HMRC using third party commercial software. HMRC’s online portal will remain available to all other businesses that complete a VAT return but have turnover below the VAT threshold.

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