This month's Tax Tip from LB Group
Over the coming years, the government plans to phase in its landmark Making Tax Digital (MTD) initiative, which will see taxpayers move to a fully digital tax system. However HMRC has shared a statement about how they are prioritising change in the department and as a result some parts of MTD will be delayed.
HMRC has acknowledged the challenges in:
• exiting the EU and
• the ambition to become the world’s most digitally advanced tax authority.
While some of the finer details are still being decided, HMRC have announced that, to achieve the above, some aspects of MTD are to be delayed. HMRC still plan to go ahead with MTD for VAT from April 2019.
Click to find out information on some of the delayed projects