HMRC’s Corporate Report Lays Out Benefits and Next Steps for Making Tax Digital Earlier this week (21 July 2020), The UK government released their corporate report titled “Building a trusted, modern tax administration system” which
Making Tax Digital
April 1 2020, was meant to be the date that HMRC launched phase II of making Tax Digital across the UK. However, due to COVID-19, they have made the decision to postpone the rollout by one year to April 1 2021.
Despite daily updates from HMRC, a year and a half ‘phase-in’ period and a significant number of TV adverts promoting Making Tax Digital (MTD) compliant software, one in ten business have missed the MTD deadline and therefore filed non-compliantly.