Making Tax Digital (MTD)

HMRC have confirmed that there will be no further changes on MTD for businesses until at least 2020.

The Treasury set out its revised priorities for current digital transformation projects, to make room for the additional demands on its resources to upgrade customs systems in preparation for Brexit.

The HMRC statement notes that the convergence of business taxes from the current range of IT systems onto a single system will now happen at a slower pace. This will slow the creation of the single account for all business customers.

For individuals, the introduction of further digital services will be delayed, with progress on simple assessments and real time tax code changes put on hold for the time being.

Note that the introduction of VAT reporting under MTD is still scheduled to commence in April 2019 for those VAT registered businesses with a turnover over the £85,000 VAT registration threshold. If you require any assistance moving to the cloud contact us  on 01295 477 250 alternatively you can email [email protected].