Although delayed until 2020 there is a stripped back quarterly reporting requirement starting in April 2019 - less than 6 months away!
Those businesses above the VAT threshold will have to start filing with MTD compatible software from April 2019.
Only businesses with a turnover above the VAT threshold (£85,000) will have to keep digital records but for VAT purposes only.
Currently all other taxes will have to be filed electronically by 2020 on a quarterly basis.
Small businesses will be able to file digitally on a voluntary basis.
The new regulations will come into effect on 1 April 2019.
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