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 highlighted the next steps of HMRC’s Making Tax Digital programme while also lauding
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.
2019 saw hundreds of thousands of UK businesses register for HMRC’s “Making Tax Digital” reform that was officially implemented in April last year. But that was the easy part. VAT managers, fasten your seatbelts because it’s going to be a bumpy 2020. Phase 2 is coming…