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July 21. 2017

MAKING TAX DIGITAL UPDATE

HMRC are introducing fundamental changes to the way the tax systems works. The original intention was for MTD to commence from 6 April 2018, they then delayed it for some until 6 April 2019. Last week the government announced that MTD will only apply to businesses from 6th April 2019 whose turnover is above the VAT threshold. For all remaining business the start date has been pushed back until at least 5 April 2020. However, it will be possible to submit business records under MTD, on a voluntary basis before then.


HMRC are running a pilot scheme to help get MTD up and running correctly. FBTC have been invited to join the pilot and we are now working with both HMRC and our software providers. We will make the move to the digital revolution easy and hassle free for you. If you would like to know more about our online cashbook, in preparation for MTD, call the office for more information 0344 984 4445.

 
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