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This is a freeview 'At a glance' guide to Making Tax Digital: Index & timeline

When does Making Tax Digital (MTD) apply? What does Making Tax Digital really mean? How will it affect you? Does MTD mean quarterly reporting? Is my business exempted from Making Tax Digital?

At a glance

Current timetable

What is MTD?

Accounts and returns?

Impact on businsses

What's new?

HMRC has opened a new consultation ‘Tertiary legislation for Making Tax Digital for Income Tax’ inviting views on draft legislation which sets out the requirements for Making Tax Digital (MTD) for Income Tax.

Timeline

A log of MTD as it evolves.

September 2021: Update on Making Tax Digital

July 2021: Basis period reform

February 2021: MTD for Income Tax policy update

November 2020: MTD proposals for companies

July 2020: New timeline announced for Making Tax Digital for Business

March 2020

March 2019

February 2019

November 2018

October 2018

July 2018

HMRC Published the results of a number of its different research projects looking at digital services.

HMRC published VAT Notice 700/22: Making Tax Digital for VAT

Draft Finance Bill 2019 contained proposals for three new tax penalty systems which were dropped following budget 2018. HMRC have said that they will be included in a future finance bill.

The penalty proposals are:

HMRC also published policy papers and this follows consultations: MTD: Sanctions for late submission and payment and consultation, Making Tax Digital: Interest harmonisation and sanctions for late payment

MTD background


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