Making Tax Digital

Although the Government’s plans for Making Tax Digital have been postponed, it is clear that the intention is to shift to more frequent digital reporting of income.  The first mandatory reporting is due to be for VAT in April 2019 with income tax following from April 2020.

Top tip:

It’s time to start keeping digital records for your business. The Government plans to widen the scope of Making Tax Digital beyond VAT to businesses from 2020 - not far away now.  This could mean quarterly reporting of your business's accounting records via digital technology in 2 years’ time.   Our specialists can advise on the set up and maintenance of digital records so you stay ahead of the curve when Making Tax Digital eventually lands.

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