Making Tax Digital (MTD), a government initiative, will come into action across the UK in April 2019. From that date, VAT-registered businesses above the threshold of £85k will have to keep digital records and submit VAT returns using compatible software.
It marks the ‘end of the tax return’ and sets out a vision for a ‘transformed tax system’ by 2020, according to HM Revenue and Customs (HMRC) who states that the main goal of MTD is to make tax administration more effective, more efficient and simpler for taxpayers.
The outlined changes apply to a wide range of taxpayers, including most businesses, micro-businesses, self-employed people and landlords, as well as individual taxpayers.
So are you prepared for this change? Key Digital are experts in digital transformation and data management solutions, helping you to stay on top of your finances and paperwork.
Our well-experienced team are able to get you up to speed an inline with the latest regulations and compliance challenges, leaving you with peace of mind and freeing up your valuable time.
So don’t leave it too late, get in touch with us today for all the latest advice and information about the changes in government regulation over the next few years. Stay ahead of the game with Key Digital.
Call 01282 479466 or email firstname.lastname@example.org to speak to one of our experts.