After much anticipation from accountancy bodies and businesses, HMRC has finally updated its guidance on Making Tax Digital (MTD), filling in several blanks.

HMRC updated some of its informational pages on GOV.UK in late August, including fresh information on how to meet the requirements for MTD for income tax self-assessment (ITSA) and how to sign up for the scheme.

The new guidance follows a prolonged silence from HMRC and comes ahead of the commencement for MTD ITSA in April 2024.

In our latest guide, we’ll highlight some areas to consider.

You can download the full guide here

For more information, please see our latest guide. Our guide gives helpful guidance on:

  • What is MTD
  • Qualifying income
  • Exceptions from MTD ITSA
  • Authorise your agent to meet the requirements
  • Check if you can voluntarily sign up now
  • MTD penalties confirmed

You can download the full guide here

 

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