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HMRC proposals
HMRC have announced that many businesses and individuals will have to file their accounting information digitally.
Starting in April 2018, some businesses will have to update HMRC quarterly through their accounting software directly to their digital tax accounts, but for VAT only at this point.
There will be a roll-out of this requirement to cover all taxes and by April 2020 many businesses will be reporting to HMRC in this way.
This is a real change in the way that millions of businesses prepare and file their financial information and the timescale in which this is to be achieved is highly ambitious.
There are detailed proposals from HMRC which cover all aspects of this reporting requirement and we would be happy to talk to you about this in more detail and to help you determine how it affects you and your business. (See How will MTD affect me?)
If you would like to have a chat about this, give us a call
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