Making Tax Digital is one of the biggest tax changes HMRC has ever rolled out, and it is already changing the way individuals and businesses deal with their tax return and self assessment. At its core, Making Tax Digital is HMRC’s plan to modernise the UK tax system by replacing paper forms and outdated processes with digital record keeping and online submissions. If you run a business, are self employed, or even a landlord, these rules directly affect the way you keep records and file to HMRC.
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Think Making Tax Digital for Income Tax means more tax returns? Think again. 📒You’ll send quarterly updates of income and expenses to HMRC from recognised software 💻These updates aren’t tax returns 📅You won’t pay four tax bills a year Find out what it means for you and how to prepare: 👇 https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd | HMRC
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