The clock is ticking…..
Did you know the way VAT is reported to HM Revenue & Customs (HMRC) is changing?
MTD for VAT
If your business is registered for VAT, you MUST sign up for Making Tax Digital (MTD) regardless of your turnover by 1 April 2022. Find out more here.
MTD for Income Tax
From 1 April 2023, most businesses, including landlords and sole traders with a turnover of more than £10,000 per year MUST file their business income tax returns with HMRC using the same MTD digital reporting software. Find out more here.