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 business start reporting MTD returns.
  • From April 2023 self-employed businesses and landlords with business turnover above £10,000 report under MTD.