Making Tax Digital
Making Tax Digital (MTD) for Business
- VAT:
- From April 2019: most VAT registered businesses with turnover exceeding the VAT registration threshold must retain digital records and submit their VAT returns to HMRC using 'functional compatible software'.
- Income tax:
- From April 2022 VAT registered unincororated business start reporting MTD returns.
- From April 2023 self-employed businesses and landlords with business turnover above £10,000 report under MTD.
- From April 2024 companies can start using a MTD for Corporation Tax (CT) pilot scheme.
- From April 2026 companies join MTD for CT.
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