SME’s with legacy IT systems have been given a further year to comply with complex new digital tax rules
HM Revenue and Customs (HMRC) introduced the new Making Tax Digital (MTD) programme in April 2019. Since then, most self-employed people and business owners with a turnover above the £85,000 VAT threshold have been forced to file their returns online using specialised software.
Making Tax Digital: the timing issues of VAT direct debits
In a recent update from HM Revenue & Customs (HMRC), some care is needed when ‘signing up’ for Making Tax Digital.