MTD using ProboVAT software | HMRC Recognised | TAX digital software UK | Intrastat | EU's VAT laws | MTD for income tax
As a very important initiative from the HMRC, Making Tax Digital is all set to bring out a new revolution in the UK VAT system. Now all the businesses that are registered for VAT will have to digitally maintain all their records and submit the VAT returns with help of MTD compatible software. The main motive of enforcing Making Tax Digital is improvement and digitization of the tax administration. As it will now be much more effective and efficient. It also makes it easier for the taxpayers to get their tax right. The major sectors of making tax digital are as follows:
Making Tax Digital for Value Added Tax
Making Tax Digital for Income Tax
Making Tax Digital for Corporation Tax