Making Tax Digital (MTD) for Business

• VAT:
  • From April 2019: most VAT registered businesses with turnover exceeding the VAT registration threshold must retain digital records and submit their VAT returns to HMRC using 'functional compatible software'.
  • From April 2022: all VAT registered unincorporated business report under MTD returns.
• Income tax:
  • From April 2023: self-employed businesses and landlords with business turnover above £10,000 report under MTD.
• Corporation tax: 
  • From April 2024: companies can start using a MTD for Corporation Tax (CT) pilot scheme.
  • From April 2026: companies join MTD for CT.