Everything businesses and tax agents need to know about the MTD regime, including who is affected, what the rules are, how to comply and what the penalties are.
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.
ICAEW's Tax Faculty sets out the key things taxpayers and agents need to know about Making Tax Digital (MTD), including the timeline for the phased introduction of MTD for income tax (MTD IT, formerly MTD ITSA).
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.
Making Tax Digital (MTD) is being phased in for income tax from April 2026. ICAEW's Tax Faculty outlines how the system is likely to work and the progress of the testing.
The introduction of Making Tax Digital for VAT has prompted discussion about the risk of penalties where introducing new processes breach of the regulations.
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.
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.
Find out more about the Tax Faculty and upcoming events. Faculty members can access exclusive content, including TAXline, TAXguides, webinars, representations and support schemes.
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 on tax problems for a nominal fee.
