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Making Tax Digital

If you’ve yet to hear about Making Tax Digital you soon will. It is the government’s initiative to digitalise the taxation system and will have a massive impact on landlords and businesses of every size.

Making Tax Digital is the requirement to submit all information to HMRC digitally – so no more submissions on paper.

And under MTD, HMRC will require businesses to update them quarterly – so no more annual tax return.

By 2020, most businesses, the self-employed and landlords will be required to update HMRC quarterly via a digital tax accounting system, using approved software.

If you are a landlord or run a business, Making Tax Digital represents a big challenge. At Optimum, we are immersing ourselves in all the requirements surrounding MTD so we can help you with the transfer to digital, and make sure you are compliant.

For any help and advice about Making Tax Digital, please get in touch.

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Accountancy