Making Tax Digital is a government initiative that sets out a bold vision for ‘a transformed tax system and the end of the tax return’ by 2020. Not sure what it means for you?
Making Tax Digital is all about making tax administration more effective, more efficient and easier for taxpayers, through the implementation of a fully digital tax system.
Please note, HMRC has recently announced that this initiative will not apply to sole traders and landlords with a turnover below £10,000.
This FreeAgent guide covers:
- Who does it apply to?
- The benefits of Making Tax Digital
- A new way of reporting
- The end of the tax return