The government’s Making Tax Digital (MTD) initiative now takes effect.
As part of the regime, taxpayers are required to move to a fully digital tax system, with businesses and individuals required to register, file, pay and update their information using a secure online tax account.
Businesses will eventually be required to supply up-to-date information in respect of their income tax and national insurance contributions (NICs). Updates will need to be made at least quarterly.
Ainsley Smith & Co can assist businesses in making full use of the MTD system, and can provide advice and support in regard to the quarterly updates required by HMRC.
We will also be keeping up-to-date on the latest developments in relation to MTD.
Please contact us for more information.