Making Tax Digital – what you need to know ahead of 2022-23
December 1, 2021
Leave a comment By Joshua Leigh & Co
On 1 April 2019, HM Revenue and Customs (HMRC) introduced its new digital tax initiative – Making Tax Digital (MTD) – and its first phase, MTD for VAT.
The purpose of MTD is for self-employed individuals and small businesses to complete their tax returns and records digitally, intending to make it easier to keep on top of their tax affairs accurately. With this in motion, HMRC hopes to go paperless altogether.
