Further to my previous post, this is a useful update on Making Tax Digital (MTD) and what professional service firms will need to consider. I’m having lots of discussions regarding MTD but there doesn’t appear to be a huge amount of activity – many firms see April 2019 as a long way off. However, it will soon be here and if IT system changes are required, it could be sensible to review your position now to ensure you are MTD ready. Our recommended five steps should be a good starting point.
By now, many businesses should have heard about MTD. However, whilst there is less than 12 months to go until MTD is implemented, many are still uncertain about the requirements and how specifically these requirements will apply to their business.