The introduction of Making Tax Digital for VAT has prompted discussion about the risk of penalties where introducing new processes breach of the regulations.

Agents and businesses that have understood the MTD for VAT requirements and are ready to join the pilots have to follow an online process to sign up. HMRC has provided a step by step guide which we reproduce here.

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 keeping on some 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.

With only 2 weeks until the 31 January self assessment deadline, the team discusses last minute filing issues practitioners are reporting as they continue filing tax returns, including a warning about payments on account. Making Tax Digital for VAT starts in just over 11 weeks so the discussion also looks at more tips for coping and has some up to date news on how MTDV is shaping up.

This month's discussion focuses on the tax help and support ICAEW offers its members through the Technical Advisory and Enquiry Service, as well as the additional resources on offer exclusively to Tax Faculty members and members of Faculties online. The team will also discuss some of the questions the Institute has been receiving on Making Tax Digital (MTD) and the progress of the Finance Bill.

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

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.

Frank Haskew, head of the ICAEW Tax Faculty, looks back over the events of 2018 – Making Tax Digital, off-payroll working rules for the private sector, the role of HMRC – and what might happen in post-Brexit Britain in 2019.

There is no doubt that this is a period of unprecedented change to the tax system, Frank Haskew outlines the challenges and potential opportunities for 2019.

ICAEW responds to the business lifecycle review call for evidence published by the Office of Tax Simplification in October 2018.

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.

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.