Making Tax Digital - change of direction
If this is the first you have heard of Making Tax Digital (MTD) take at look at our dedicated pages at www.marslandnash.com/making-ta...
On 13th July 2017 the government announced significant changes to the timetable for implementing MTD as follows:-
- The first deadline is now April 2019 rather than April 2018.
- Only sole trader/partnership businesses with a turnover (sales) above the VAT threshold (currently £85,000) will need to comply with MTD from April 2019, rather than all business with a turnover above £10,000.
- For sole trader/partnership with a turnover between £10,000 and £85,000, MTD will not affect them to at least April 2020.
- For all companies, MTD will affect them from April 2020.
At MNA will are continually monitoring the position with regards to MTD and how it will affect our clients. We have dedicated MTD pages on this website which will be kept up to date for you. We will be offering a full range of services for our clients to assist with your obligations under MTD.
In due course we will run seminars on MTD for you.