Making Tax Digital (MTD) is part of HMRC’s plan to transform its current system into one of the most digitally advanced tax administrations in the world. HMRC’s vision is that paper tax returns will be abolished and digital records will enable taxpayers to update HMRC frequently on their income position, thus having a ‘real-time’ idea of their tax liabilities presented to them in their digital tax account. The intention is that a taxpayer should not have to tell HMRC something that HMRC should already know. View more information by downloading our factsheet below.
Making Tax Digital – Questions and Answers
20th August, 2018