
MTD for VAT rules will apply to all VAT-registered businesses from Friday 1st April
From Friday 1st April 2022, all VAT-registered businesses will be required to follow MTD for VAT rules. Read more
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Find out everything you need to know about Making Tax Digital, including whether the legislation applies to you, key deadlines and what you need to do to comply.
How FreeAgent can help Making Tax Digital explainedAccountant or bookkeeper? Visit our Making Tax Digital information hub for a range of resources.
Making Tax Digital (MTD) is the government’s initiative to implement a fully digital tax system in the UK, whereby taxpayers keep digital records and use MTD-compatible software to make tax submissions electronically.
All VAT-registered businesses must follow Making Tax Digital rules.
Making Tax Digital for Income Tax for self-employed business owners and landlords.
Making Tax Digital for Income Tax for partnerships with individual partners.
HMRC will aim to introduce Making Tax Digital for Corporation Tax.
To comply with Making Tax Digital legislation, you need to use MTD-compatible software to keep digital records and make submissions to HMRC electronically.
MTD for VAT requires VAT-registered businesses with VATable sales above £85,000 to keep digital records and use MTD-compatible software to submit VAT returns electronically. In April 2022, these rules will be extended to include all VAT-registered businesses.
FreeAgent’s MTD-compatible accounting software allows you to submit MTD VAT returns directly to HMRC. Just follow these simple steps.
Register for Making Tax Digital for VAT on HMRC’s website and sign up to FreeAgent.
Connect your FreeAgent account to HMRC’s Making Tax Digital service.
Get your business’s accounts ready and file your first MTD VAT return.
FreeAgent is jargon-free, easy to use and MTD-compatible. Go solo or work with an accountant or bookkeeper for total peace of mind.
Making Tax Digital for Income Tax, also known as ‘MTD for Income Tax Self Assessment’ or ‘MTD for ITSA’, will replace the current system of annual Self Assessment tax returns. MTD for Income Tax will come into effect in April 2024 for self-employed business owners and landlords and in April 2025 for partnerships with individual partners.
Although you can’t sign up for MTD for Income Tax just yet, you can find out whether you’ll need to sign up in the future with our handy tool.
Use this interactive tool to find out if you’ll need to sign up to submit Income Tax updates via accounting software.
Find out nowRead more Making Tax Digital news on our blog
From Friday 1st April 2022, all VAT-registered businesses will be required to follow MTD for VAT rules. Read more
If your business is affected by the upcoming changes to MTD for VAT, there will soon be a new love in... Read more
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Accountant or bookkeeper? Visit our Making Tax Digital information hub for a range of resources.
FreeAgent’s powerful automation features can help get your accounts in order for digital filing with minimal hassle. Check out all the other ways FreeAgent can help you stay on top of your business finances.
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