What is Making Tax Digital (MTD)? скачать в хорошем качестве

What is Making Tax Digital (MTD)?

What is Making Tax Digital (MTD)? Making Tax Digital (MTD) is an initiative by the UK government to make it easier for individuals and businesses to get their tax right, transitioning from paper to digital records. Making Tax Digital (MTD) was launched in April 2019 – and it is reported to have generated an extra £220 million in tax revenue in the first year. Who is affected by Making Tax Digital (MTD)? Currently, these changes affect VAT-registered businesses with an annual turnover of more than £85,000. But eventually the plan is to extend this to all VAT-registered businesses, for Income Tax in 2026 (for self-employed) and Corporation Tax. Making Tax Digital (MTD) will result in: Reducing errors and mistakes when doing taxes Being able to record taxes digitally Cutting down overheads for businesses and also for HMRC Making it a faster, easier and more efficient process for everyone. Here's how Making Tax Digital (MTD) will be for sole traders: Sending Income Tax digitally rather than via Self Assessment You can sign up now, even if you’re doing a Self Assessment You need compatible software to keep records You’ll send HMRC an overview of your income and expenses every 3 months You’ll see estimates of what you owe each quarter. The next deadline for MTD will be for sole trader and limited company businesses, in April 2026. Pie aims to democratise tax for the masses, with everything you need to manage your taxes without anxiety, in one easy-to-use, affordable, and beautifully designed app. Download the Pie Tax App now to see what you could save or make www.pie.tax Tax Credits, Tax Refunds, Universal credits, government support, self-employed, income protection, CIS, tax returns, tax, Tax Credits, Tax Refunds, Refunds, tax calculator, CIS tax refund, government gateway, login, self-employed, SIIP, HMRC, Tax refund, cis, self-employed, sole trader, gig economy, self assessment, MTD, making tax digital,