Now the Government is over the General Election The Treasury have announced a delay to Making Tax Digital. It was expected that businesses whose turnover exceeded the VAT threshold would be required to make digital quarterly returns for income tax purposes form April 2018, this has now been put back to April 2019.
Smaller businesses who were due to come online in April 2019 are delayed to April 2020, and may not be required to keep digital records at all.
We’ll keep you posted if there are further developments.
