Making Tax Digital is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs - meaning the end of the annual tax return for millions.
The government announced its vision for modernising the tax system at March Budget 2015.
At Spring Budget 2017 the government announced that it would provide 3.1 million small businesses with an extra year (until 2019) before they are required to keep digital records and send HMRC quarterly updates.
Every individual and business now has access to their own personalised digital tax account and these are being regularly expanded and improved.
We are going to be writing an in depth Blog about how Making Tax Digital will impact different business and individuals.
Due to the upcoming election, Making tax digital has been removed from the Finance Bill. This means that Making tax digital has now been delayed.