Making Tax Digital, which currently only impacts VAT registered businesses above the VAT registration threshold (effectively excluding voluntary registrations) will apply to all UK VAT registered businesses from April 2022 and most business income tax records from April 2023. MTD will also apply to landlords with income over £10,000 and quarterly updates will be required. There will be consultation later this year on what MTD should look like for Corporation Tax.
Making Tax Digital (“MTD”)
Aug 17, 2020 | VAT