Agents will need to take steps to prepare both their own practices and their clients for the disruption that Making Tax Digital and digitalisation will cause to the market for accounting and tax services.

HMRC's vision to digitalise the UK tax system is well underway. The transformation will start with Making Tax Digital (MTD) for VAT from April 2019.

The first stage of HMRC's Making Tax Digital (MTD) programme focuses on VAT and imposes new requirements for digital recording keeping on VAT registered businesses and organisations from April 2019.

During the introduction of Making Tax Digital (MTD), ICAEW is sharing the latest information about the software that taxpayers and agents will need to keep digital records and to submit information to HMRC.

Making Tax Digital (MTD) will lead to very significant change for many ICAEW members in practice. MTD is a major HMRC driven change to the administration of the tax system but it should be seen in the context of the increasing digitalisation of business, including the business of providing accounting and tax services.

MTD for individuals is centred around the Personal Tax Account (PTA) which already has many of the services needed by PAYE taxpayers. HMRC continues to improve and develop the PTA.

Making Tax Digital (MTD) for income tax will not be mandated until April 2020 at the earliest and much of the detail of the requirements is still unknown. Here ICAEW's Tax Faculty outlines how it is likely to work and the progress of the pilots.

As HMRC rolls out new digital services to agents, including MTD for VAT and income tax services, access will be via a new agent services account (ASA).

This month the panel included Richard Wild, of the Chartered Institute of Taxation, and covered practitioner matters and the upcoming Budget.

Join Anita Monteith and Sarah Ghaffari as they talk you through the legislation and how the requirements will affect businesses with taxable turnover above the VAT threshold and those that may cross the threshold for the first time.

The final regulations for MTD for VAT have been laid before parliament and the legislation is now all in place.

A factsheet developed by ICAEW Tax Faculty to be shared by accountants to clients that are not VAT registered businesses and would like more information on Making Tax Digital.

A factsheet developed by ICAEW Tax Faculty to be shared by accountants to clients that are VAT registered businesses and would like more information on Making Tax Digital.

A factsheet developed by ICAEW Tax Faculty to be shared by accountants to clients that are voluntarily VAT registered businesses and would like more information on Making Tax Digital.

Della Hudson, Consultant, Author of The Numbers Business, and former owner of Hudson Accountants Ltd writes about her experience of automation as a start-up owner.

With the prospect of Making Tax Digital impending, and increasing pressure on practices to move from compliance to business advisory, there is an urgent need for guidance to help practitioners make the transition seamlessly.

ICAEW has surveyed 500 business, asking if they are aware of the new requirements under HMRC's Making Tax Digital (MTD) programme and what steps they have take to prepare for the changes. Close to half of respondents said they had not heard of MTD for VAT. Read the full survey results.

ICAEW's Tax Faculty has responded to HM Treasury's invitation for comments ahead of the 2018 Budget. The response concludes that there should be no new policy initiatives on tax at this time. Attention should instead be given to enabling taxpayers easily to fulfil their obligations and to understand their entitlements. Coping with HMRC’s digital systems has been made more difficult by the number of policy changes.

ICAEW's Tax Faculty responds to the consultation: Cash and digital payments in the new economy: call for evidence published by HM Treasury on 13 March 2018.

ICAEW's Tax Faculty responds to the VAT registration threshold call for evidence published by HM Treasury on 13 March 2018.

MTD – Draft value added tax (amendment) regulations & notice 2018

List of companies who are supplying suitable software to support the MTD for VAT pilot. These suppliers have tested their products in HMRC's test environment and have already demonstrated a prototype of their software to HMRC.

Notice giving updated guidance on digital record keeping and return requirements of MTD for VAT. It explains the digital records that businesses must keep, ways to record transactions digitally in certain special circumstances, and what counts as ‘functional compatible software’.

Technical note giving a revised statement of impacts for the Making Tax Digital for Business programme to reflect the changed scale and scope of the mandatory elements announced in the government's Written Ministerial Statement of 13 July 2017.

A summary of a panel discussion on machine learning, artificial intelligence and its impact on accounting. The article looks at predictions for 2018 and the implications for making tax digital (MTD).

Policy paper explaining the foundations of MTD, the impact on individuals and businesses, links to consultations, the next steps for implementing MTD for business, and case studies.

Statement made by Mel Stride, Financial Secretary to the Treasury, announcing policy changes to the timeframe and scope of Making Tax Digital rules.