Definition of making tax digital MTD

Making tax digital is a government initiative designed to transform the tax system and end the use of the tax return for a great many taxpayers. It is intended to make it easier for businesses and individuals to maintain records and to get their tax correct. Under MTD businesses will be required to keep records digitally and make a quarterly return of data to HMRC, with a final adjusting return when figures are final.

It is being phased in following a pilot, and is expected to apply for income tax from April 2018, VAT from April 2019 and corporation tax from April 2020. [1]

FT Articles & Analysis

No articles are associated with this term

Related Terms

No related terms are available