Making Tax Digital – Next Steps

Introduced in 2019, the Government continues to implement its Making Tax Digital initiative.

This landmark change in the recording and reporting of tax has gradually seen the major components of taxation taken online, using the latest HM Revenue & Customs-compliant software, apps and programs.

Taxpayers must keep up to date with any changes or additions to the MTD initiative, as they could face fines or penalties if they do not comply in the future.

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

 

Our team has 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

As the Making Tax Digital initiative continues to progress through its various stages, we are on hand to assist you with any queries or questions that you may have.

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

Latest from our Blog

23 Jan
2025
How to minimise Inheritance Tax liability amidst rising tax receipts

Inheritance Tax (IHT) receipts are climbing, with the first three quarters of the 2024/25 financial year bringing in £6.3 billion …

Read more…

22 Jan
2025
Is your business ready for the April 2026 Making Tax Digital ITSA rollout?

The next phase of the Making Tax Digital (MTD) initiative is edging ever closer.  

21 Jan
2025
Will the minimum wage rise push graduate workers into unexpected student loan repayments?

The upcoming rise in the National Minimum Wage to £12.21 per hour from April has prompted fresh challenges for businesses, especially …

Read more…

16 Jan
2025
How tax wrappers can mitigate the impact of rising Capital Gains Tax

The Autumn Budget brought unwelcome news for investors, with the Government announcing immediate increases to Capital Gains Tax …

Read more…

15 Jan
2025
Is your business prepared for increased HMRC scrutiny?

Recent figures show that HM Revenue & Customs (HMRC) recovered £45.7 billion in tax probes in 2024, a £10 billion increase …

Read more…

14 Jan
2025
Charging company electric vehicles – Costs, reimbursements, and tax implications

With the rise of electric vehicles (EVs), many company directors and employees charge their cars at home.  

9 Jan
2025
Is your business environmentally sustainable? Why going green can improve your bottom line

For business owners, sustainability might have been something viewed as a nice-to-have or a PR exercise in the past, but because …

Read more…

8 Jan
2025
Double cab pickups – How long will they be taxed as vans and when will they switch to car tax rules?

For years, double cab pickups have benefited from being classified as goods vehicles for tax purposes, allowing businesses to …

Read more…

7 Jan
2025
Smart pricing strategies – Protect your business without losing customers

More than half of UK businesses plan to raise their prices in the next three months, according to the British Chambers of Commerce …

Read more…

2 Jan
2025
Directors’ loan accounts: How Section 455 impacts you

Directors’ loan accounts (DLAs) are a common financial tool for owner-managed businesses.