Making Tax Digital is set to overhaul the UK tax system in the coming years. In July 2017 the government revised the timescale of the initiative, leaving many small business owners unsure of when they will be affected.
To help you guide your clients through the revised plans for Making Tax digital, we’ve produced a concise guide on the initiative for micro-businesses and freelancers. It explains what Making Tax Digital is, what its objectives are and how it will affect the way taxpayers report information to HMRC in the future. The guide also includes a handy abridged version of HMRC’s timeline to highlight the key milestones for micro-business owners and freelancers.
Once you’ve downloaded the guide, you can either email it to your clients or print it out and pass it on to them at your next appointment.
The content in this guide is based on HMRC's guides and resources and was last updated by FreeAgent in February 2019.