Making tax digital

//Making tax digital
Making tax digital 2

Under the MTD scheme, HMRC has planned to digitize the tax system in stages. In first stage VAT for , businesses who’s turnover was above VAT threshold were required to join the scheme. from April 2022 all vat registered businesses will be required to come under MTD. In next stage Income Tax Self Assessment and Corporation Tax for both businesses and individuals will be rendered under the scheme. MTDs main purpose is to make tax returns simpler and efficient for tax payers as well as HMRC.

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