Making Tax Digital (MTD)
Significant changes are underway concerning VAT returns and bookkeeping, and these changes will affect many UK businesses.
HMRC is launching a new scheme called ‘Making Tax Digital’, effective from 1 April 2019 for all VAT registered businesses.
The scheme requires all VAT registered businesses to submit VAT return data via a complete end-to-end digital process. All businesses will need to take action, whether they are currently using spreadsheets or accounting software.