MTD Solution Flowchart

MTD for VAT is to be introduced by HM Revenue & Customs (HMRC) in April 2019 for those businesses trading above the VAT registration threshold of £ 85,000. VAT exempt turnover does not count towards this threshold. MTD requires that records are kept in a digital format and VAT returns are filed from accounting software, rather than via the HMRC website. MTD for corporation tax and income tax self-assessment has been delayed until 2020 at the earliest.