The years of talking about Making Tax Digital (MTD) are shortly about to become a reality for businesses over the VAT-registration threshold.
The rules apply for the first VAT period starting on or after 1 April 2019 and require the digital submission of VAT return information.
There will be a grace period in the first tyear of transition, which will be welcome whilst businesses get up to speed with the new requirements.
The next step for all VAT-registered businesses is an internal review of processes and systems to check they have the software and capabilities in place to cope with the new requirements.
Income, corporation and other taxes could also be subject to MTD from as early as April 2020, but that, in large, will depend on how successful the implementation for VAT is.