MTD and income tax
Making Tax Digital (MTD) for income tax will not be mandated until 2021 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.
MTD for income tax will apply to the self-employed, partnerships and to those who receive income from property; all references to businesses on this page includes all these groups. Most of the legislation for MTD for income tax is still only draft. The regulations will not be laid before parliament and the notice containing the details will not be published until the government makes a decision to mandate MTD for income tax.When MTD for income tax becomes mandatory businesses within scope will be required to: