Take the next step on the road to Making Tax Digital

The Government’s continuing implementation of its Making Tax Digital initiative is creating new challenges for businesses, investors and workers.

The next big step in this complex scheme will create a landmark change in the recording and reporting of Income Tax in 2023 and Corporation Tax in the years following.

Below are the key dates for Making Tax Digital, to help you track your journey and ensure you are compliant with the changes ahead.

Making Tax Digital will gradually see all major components of taxation taken online, using the latest HM Revenue & Customs-compliant software, apps and programs.

Taxpayers must be fully prepared for these changes, as they could face fines or penalties if they do not comply.

We know there is a lot to consider in the coming years, which is why our team have prepared a helpful guide, which is packed with information on the various stages of Making Tax Digital and what you may need to report.

Act now

You need to start preparing for these changes now so that you are ready to comply with the new digital tax system.

You may need to invest in new technology, such as cloud accounting software, and alter your method of recording and reporting accounts and tax information.

We have already helped a wide range of businesses with the initial stages of Making Tax Digital and can assist you by putting the necessary software, apps and procedures in place.

To arrange an initial Making Tax Digital consultation with our team, please contact us.