Making Tax Digital Announcement from HMRC

On 21 July the Government published a 5 to 10-year vision for tax administration.   This included a future roadmap for Making Tax Digital.     The roadmap provides certainty so that businesses and agents can plan ahead. It allows for lead-times and piloting and does not require action in the near future.  
Making Tax Digital will be:

extended to VAT-registered businesses with turnover below the £85,000 VAT threshold from April 2022 – 30% of these businesses have already joined voluntarily; and  

introduced for Income Tax Self-Assessment for businesses and landlords with income over £10,000 from April 2023.   In addition, we will consult in the Autumn on the detail of extending Making Tax Digital to incorporated businesses with Corporate Tax obligations.  

You can read the Vision, ‘Building a trusted, modern tax administration system’, on Gov.uk:   https://www.gov.uk/government/publications/tax-administration-strategy






 

Subscribe here

to receive email updates for any new posts

Join 199 other subscribers.


 

Refund Policy

For online payments taken via the Invoice Payment page, no refunds can be given as payment is only taken after my service has been provided.

 

%d bloggers like this: