Making Tax Digital
This week The Treasury announced new plans with regards to Making Tax Digital (MTD): MTD for Income Tax will become mandatory from the 6th April 2023 for Businesses and Landlords with a turnover in excess of £10,000.
They will ensure all VAT registered businesses (including those below the threshold) submit VAT returns via MTD from April 2022.
Visit the HMRC MTD page for more information: https://www.gov.uk/government/publications/making-tax-digital