UK: Making Tax Digital Phase 2: Delayed until further notice

May 20, 2020 | VAT Updates

VAT Updates Europe

Making Tax Digital (MTD) was introduced to the UK on 1 April 2019 as part of the Government’s plan to ease individuals’ and businesses’ tax monitoring and ensure they are paying the correct tax. Currently , the reform applies to VAT-registered businesses, but going forward the intention is that it will apply to every single business entity that is required to complete and file tax returns digitally.

As a result of the COVID-19 outbreak, the launch of MTD Phase 2 has been postponed until further notice.

 

Source Credit -Pricebailey

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