The one-year delay to a 2024 start date for Making Tax Digital (MTD) for income tax self assessment (ITSA) provides more time to prepare for change, but workload planning for the significant shift to in-year reporting needs to happen soon.
The Tax Faculty had a fantastic response to its recent webinar, MTD for ITSA: back to basics and myth-busting and members raised some great questions. Some of the property income questions illustrated how worried ICAEW members are about how those rules will work for their clients.
The faculty has considered the questions raised and published all the questions together with answers on icaew.com as a resource to accompany the webinar recording.
This Tax Faculty webinar covers the regulations in detail, explains where we are with the development of the policy and the pilot and what agents and taxpayers can do to prepare.
The live broadcast of the webinar took place on 30 November 2021.
View the resources:
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