Making Tax Digital – 2020 breathing space
In response to the coronavirus (Covid-19) pandemic, HMRC announced that all mandated businesses now have until their first VAT period starting on or after 1 April 2021 to put digital links in place.
The confirmation from the Chancellor in his Spring Statement that MTD will not be mandated for income or corporation tax and that MTD for VAT will not be extended to all VAT registered businesses until 2021is great news. It provides businesses with the breathing space they need to get their systems in order and ready for 2021.
Now is the time to arrange your data cleaning audits, to check your MTD system are fit for purpose and to provide your staff with any training they need to ensure systems are running smoothly.
IMS is here to support all your needs no matter how big or small. Contact us today – call Archie Gardner on 0845 1308499 or 07885104218 we can help you make best use of the breathing space the Chancellor has provided.