HMRC is changing how businesses submit tax information. It’s a new system called Making Tax Digital and could mean five tax submissions per year; a 400% increase on the annual return you do currently. But don’t worry, Countingup will take care of MTD effortlessly.
In April 2019 VAT must be submitted quarterly via MTD using third party commercial software. HMRC intends that quarterly self assessment and corporation tax will follow from April 2020. Don’t leave being prepared to the last minute.
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