Making Tax Digital becomes mandatory

Making Tax Digital (MTD) became mandatory for VAT-registered businesses today (1 April).

Around a third of VAT-registered businesses with taxable turnover below £85,000 have voluntarily signed up to MTD for VAT ahead of April 2022, and thousands more are signing up each week, according to the government.

Lucy Frazer, HM Treasury’s Financial Secretary to the Treasury, said: “Businesses using MTD are saving time on their tax affairs, streamlining their processes and boosting their productivity as a result.

“Our first move towards a modern, digital tax service – MTD makes it easier for businesses to get their tax right first time.”

Support and information is available, including accessible online content such as YouTube videos, GOV.UK help pages, and HMRC’s Extra Support service.