MTD for VAT has already started and has been “live” for nearly three years. It started with businesses above the VAT threshold limits (currently £85,000) in April 2019. From the 1st of April 2022, MTD for VAT will apply to all VAT registered businesses regardless of the level of turnover.
The first VAT period to which MTD applies to all VAT registered businesses (who are not already doing so) will be the one commencing on or after the 1st of April 2022.
MTD for Income Tax should become law from the 6th of April 2023, this will apply to self-employed, partnerships and to those who receive income from property, with gross income from these sources combined above a threshold of £10,000
As forward thinking accountants we know all the software’s and techniques to help our clients become MTD compliant, and we can proudly say that all our current clients are thanks to our help.