Making Tax Digital

 

Updated 13th July 2017

As part of its “Making Tax Digital” policy, HM Revenue and Customs (HMRC) has announced an amended timetable for the introduction of MTD.

Making Tax Digital is set to be a significant change for most businesses which is why Poole Waterfield will help you with and throughout the transition.

We already offer support with various accounting/book-keeping packages and we believe that we can assist in finding the best solution for your business to make the transition to “MTD” go smoothly.
The key dates are -

  • From April 2019 ‘MTD’ will commence for unincorporated businesses/landlords with a turnover above the VAT limit (£85,000 from 1st April 2017)

  • From April 2020 It is anticipated that other business/companies will be introduced to MTD.

The introduction of ‘MTD’ will mean that you will be required to submit a summary of business transactions to HMRC on a quarterly basis. However, the tax payment due dates will not be changed.

More detailed information can be found at –

https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital

https://www.gov.uk/government/news/next-steps-on-the-finance-bill-and-making-tax-digital


If you wish to discuss this further please contact the office on 01384 455 505.
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Making Tax Digital
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