HMRC’s Making Tax Digital (MTD) initiative requires businesses and landlords to maintain digital records and submit tax returns electronically using HMRC-approved software.
This change aims to improve tax accuracy and efficiency while reducing errors in tax reporting. Businesses should ensure they are fully compliant with MTD requirements to avoid penalties.
Read full HMRC guidance here:
https://makingtaxdigital.campaign.gov.uk/mtd-for-income-tax-dates//