Making Tax Digital delayed to 2020 at the earliest for taxes other than VAT

Heeding concerns across the accounting spectrum, the government has amended the timetable and implementation intakes of Making Tax Digital (MTD)

Under the reformed timetable, only businesses with a turnover above the VAT threshold (£85,000) will have to keep digital records, and only for VAT purposes, starting from 2019. Businesses will not be asked to make the switch to MTD and update HMRC quarterly for other taxes until at least 2020.

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