Making Tax Digital (MTD)

Frequently Asked Questions. Answers to the most common problems and Enquiries.

Making Tax Digital (MTD)

Postby abctech on Thu Nov 15, 2018 2:29 pm

HMRC wants to revolutionise the tax system and have a fully digitised system that will reduce their cost of managing your tax. This is known as Making Tax Digital (MTD). It will require business owners to use computer accounting software (approx 25% of UK businesses still use paper systems). The full MTD has been postponed, and many in the know think it will be delayed again. However, MTD for VAT Returns is being brought in from April 2019 (only compulsory if your turnover is above £85k.)

ABC Accounts[ provides digital accounting records and the ability to produce VAT Returns.
And ABC is approved by HMRC for sending VAT Returns for MTD.

Many businesses currently type their VAT Return figures into HMRC's website. This will still be available after 2019 BUT ONLY if your turnover is below £85k.

Note: Accountancy magazines are full of articles suggesting this can be a money making bonanza for accountants, and explaining how to "scare" clients into going with subscription based Cloud services, or changing to "special" software. ABC does all that you need for MTD.
(There is no question about ABC that we can't answer :-)
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