Guidance: Making Tax Digital for Income Tax
· WOWERI
HMRC has published guidance for software developers on Making Tax Digital for Income Tax. Check out the latest updates.
Introduction
Making Tax Digital (MTD) is an HMRC initiative to modernize the UK tax system. This guide covers the latest updates for software developers on MTD for Income Tax.
Key Points
- MTD for Income Tax introduces mandatory digital reporting for businesses and individuals
- Software developers must ensure their products are MTD compatible
- The guidance provides information on required features and data formats
What to do next
Source: gov.uk