Making Tax Digital will affect you!
Gareth Southgate’s meticulous planning has navigated England to their first Euro final. Is it finally coming home on Sunday?
You need to start planning now for MTD. Planning equals success. Ask Southgate.
Making Tax Digital (MTD) is a compulsory UK government initiative requiring you to file quarterly updates for your accounting period.
All VAT registered businesses must use ‘functional compatible software’ from April 2022 to retain digital records and submit their VAT return to HMRC, unless an exemption such as digital exclusion applies. This includes those below the VAT registration threshold.
Self-employed business and landlords earning over £10,000 p.a. must be MTD compliant from April 2023.
MTD will apply to all businesses from April 2026.
It is imperative for you to plan for this NOW!