Making Tax Digital (MTD)
What is MTD?
Making Tax Digital (MTD) is the UK government’s flagship programme changing the way tax submissions are currently filed for businesses and individuals. In turn the changes will affect how you collate and record your income and expenditure transactions running up to your year-end submissions.
"I've heard about HMRC Making Tax Digital (MTD). Will my Practice be compliant?"
Existing Client Quote
Following closely on the heels of Making Tax Digital (MTD) VAT and already referred to as one of the biggest tax shake-ups for a generation, MTD for Income Tax /Self-Assessment, Partnerships and Corporation Tax will be mandated for all individuals and businesses
In summary Making Tax Digital requires individuals and businesses to adopt
- Digital record keeping on a ‘real time’ basis.
- Quarterly summary updates of income and expenditure to HMRC.
- Digital submission of a Self-Assessment, Partnership or/and Corporation Tax Return