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MTD for VAT: An Overview – Part 2

Getting started with MTD Keeping accurate records is an integral part of a business. Poorly organized records could be penalized by HMRC. It is important to digitize the mountain of paperwork, containing all your business transactions, from the commencement of … Continue reading

MTD for VAT: An Overview – Part 1

What is Making Tax Digital (MTD)? Individuals and businesses can easily file a tax return with Making Tax Digital (MTD), UK Government’s initiative, to save time and hassle by having a comprehensive digital tax administration service online. When do you … Continue reading

9 weeks and Counting Down to Making Tax Digital for VAT
  •   17 Jan, 2019  Posted By Thenvi Subin   Posted in MTD
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With less than three months to go before Making Tax Digital for VAT comes into effect, is your business ready for the upcoming changes to digital recordkeeping and filing that the new regime will bring? This article outlines the key … Continue reading

Making Tax Digital : What’s coming our way!
  •   15 Nov, 2018  Posted By Thenvi Subin   Posted in MTD
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One of the most intellectual persons the world has ever had, Albert Einstein said, “The hardest thing in the world to understand is the income tax.” Tax payments have almost been like rocket science to most taxpayers. Even Former U.S. … Continue reading

HMRC opens pilot for MTD VAT filers

The tax authority HM Revenue & Customs (HMRC) has invited more than half a million businesses to test Making Tax Digital (MTD) for VAT moving forward to the digitisation of tax which will be effective from April 2019. HMRC has … Continue reading

It’s time to get ready for Making Tax Digital

Originally announced back in 2015, Making Tax Digital aims to digitise the UK’s taxation system through the use of digital records and online filing through compatible software. With just months to go before the launch of Making Tax Digital for … Continue reading

Making Tax Digital for VAT Notice Released by HMRC

On 13 July 2018 HMRC released VAT Notice 700/22: Making Tax Digital for VAT. As the scheme is only months away from its scheduled launch date, businesses and accounting firms alike will likely welcome the additional clarification that this release … Continue reading

Making Tax Digital – A step forward towards digitisation

Digitisation is the order of the day. Just as there was a wave of transformation during the late 20th century from paper-based filing to electronic filing in PDF or HTML among various regulators, there is now another wave of change … Continue reading

Brexit delays MTD mandate and implementation

Brexit delays MTD mandate and implementation A deadline of 2020 is set for all tax returns to be digitised. However, the Brexit split will delay the MTD (making tax digital) mandate and its implementation which might extend the timeline for … Continue reading

HMRC postpones Making Tax Digital project by another year

Making Tax Digital (MTD) for Businesses project is HMRC’s ambitious project to make the tax system advanced and efficient. After much consideration about the rate and scale of changes, the government has recently postponed the Making Tax Digital scheme to … Continue reading

Making Tax Digital reporting system beta test to begin in April, 2017 – HMRC

HM Revenue and Customs (HMRC) has confirmed plans to beta test its Making Tax Digital (MTD) reporting system in April, with up to 100 testers due to be selected for an initial pilot ahead of a more significant trial in … Continue reading



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