How To Ensure You're Ready for Making Tax Digital (MTD)?


IIH Global

Making tax digital software

Making Tax Digital (MTD) means it’s fundamental changes to the way how the tax system works. HMRC ambition is one of the most digitally advanced tax administrations in the world. If we think about short-term businesses like yours will be required to make, review, and then submit your existing tax records digitally.

Today, businesses are increasingly seeing the benefits of digitization as we know. Millions of businesses are already banking, paying bills, online and interacting with their customers or suppliers online, and many peoples are already using accounting software.

MTD VAT software

When will MTD launch?

Making Tax Digital(MTD) is expected to apply to a range of how to do taxes yourself step by step, including income tax, VAT, and corporation tax, etc. However, these will come into effect at different times need to understand very well.

According to recent news, MTD for VAT will be the first to launch in April 2019, if we talk about income tax and corporation tax, it’s expected to come into effect from April 2020, maybe.

Who is affected by MTD?

Its full requirements for income tax and corporation tax are not known, there is so much information that has been released regarding VAT.

For example, when it comes to VAT, businesses will fall within the remit of the initiative if they are VAT registered and have a turnover in excess of £80,000 as current VAT threshold businesses can also voluntarily opt-in if they so wish.

Making Tax Digital software for VAT, the big changes businesses will face are the make sure to keep digital records, documents, and file online VAT returns through software that is connected with the MTD platform.

What does Making Tax Digital mean for you?

Below are the important components of the Making Tax Digital(MTD) enterprise, which are:

  1. Digital Records: Your transaction data will need to be stored digitally, and there are specific rules put forward by the HMRC on what specific details you will need to store.
  2. Digital Links: Your VAT returns must have links to digital records. For VAT notice, where a digital link is required and how you might use that one.
  3. Digital Submission: For all VAT returns will need to be submitted digitally via the HMRC system Making Tax Digital software API.

How do I get my business-ready MTD for VAT success?

This point is very important to understand, How businesses should review their processes to see whether they are ready for the upcoming changes under Making Tax Digital (MTD) registration for VAT given its anticipated launch is just a few months away. In case, businesses should ensure how they should comply with the new digital record keeping the same requirements, and check that their software is compatible with the MTD platform.

If you are looking software development company for MTD Get In Touch with us, or send an email to

Discover Your Ideas With Us

Take the lead with integrated innovation in your company using high-quality software. Contact us now to get started with your project.

Intelligent IT Hub Ltd. is Registered in UK under Companies House with Company Number FC033871 & Establishment Number BR018959.
 Intelligent IT Hub Pvt. Ltd. is Registered in India under Registrar of Companies with CIN Number U72900GJ2013PTC076759.
4.9 / 5.0 by 160+ customers for 525+ Web and Mobile App development projects.
arrow-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram