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What does MTD mean for your practice?
Need to know
Preparing your practice for MTD
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.
Need to know
MTD overview
ICAEW's Tax Faculty outlines the key things businesses and agents need to know about the Making Tax Digital Regime and a timeline for its introduction.
What are the rules?
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MTD and VAT
- Helpsheets and support
- 04 Oct 2022
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.
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MTD income tax self assessment
- Helpsheets and support
- 08 Dec 2022
Making Tax Digital (MTD) for income tax is mandatory from April 2024. ICAEW's Tax Faculty outlines how it is likely to work and the progress of the pilot.
Legislation for Making Tax Digital
- Listing
- 05 Dec 2022
Links to the enacted and proposed legislation mandating Making Tax Digital.
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MTD for VAT penalties
- Helpsheets and support
- 09 Jan 2023
The introduction of Making Tax Digital for VAT has prompted discussion about the risk of penalties where introducing new processes breach of the regulations.
How to comply
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Signing up for MTD
- Helpsheets and support
- 01 Dec 2022
ICAEW's Tax Faculty provides step-by-step guides on how to sign up for Making Tax Digital VAT (MTD VAT) and MTD income tax self assessment (MTD ITSA) for businesses and for tax agents.
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Software for MTD
- Helpsheets and support
- 22 Sep 2020
ICAEW shares the latest information about the Making Tax Digital (MTD) software that taxpayers and agents will need to keep digital records and to submit information to HMRC.
Further support
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ICAEW Tax and VAT Helpline
ICAEW Tax and VAT helpline is a subscription based service provided by Markel Tax (formerly Abbey Tax). It offers expert, practical advice on UK tax and VAT issues and trends.
TAXconnect
Search for a consultant to help you with a specific technical tax problem. TAXconnect works on a telephone ‘hotline’ system, whereby consultants offer advice to fellow Tax Faculty members and Faculties Online subscribers on tax problems for a nominal fee.