What to Know About MTD Digital Links Consider this a beginner’s guide to understanding MTD digital links and why they matter to your business. If you’re a large UK company with your own finance team, then you may be all set for Making Tax Digital
Making Tax Digital
2019 saw hundreds of thousands of UK businesses register for HMRC’s “Making Tax Digital” reform that was officially implemented in April last year. But that was the easy part. VAT managers, fasten your seatbelts because it’s going to be a bumpy 2020. Phase 2 is coming…
VAT registered businesses trading above the compulsory registration threshold (currently £85,000) will not be able to use manual records from 1 April 2019. Instead, businesses must use‘functional compatible software’ (digital records) to meet the new requirements.