MTD Plans Postponed!

Making Tax Digital (MTD) plans have turned into something of a hokey cokey this Summer, first it was in, then with the General Election it was out (or at least on hold) then it was supposedly back in again but it has now been announced it is definitely out again… for now!

The government have now confirmed a new timetable for their plans which gives businesses a bit more breathing space to get themselves organised and ready for the digital change.

Under the new timetable:

  • businesses with a turnover above the VAT threshold (currently £85,000) will have to keep digital records and only for VAT purposes initially
  • they will only need to do so from 2019
  • businesses will not be asked to keep digital records, or to update HMRC quarterly, for other taxes until at least 2020

So basically it is still going to be introduced and there is still going to be a digital overhaul of taxes as planned but just not as soon as was initially intended. This is welcome news for businesses, particularly those who were originally going to be affected as early as April next year.

The new announcement means all businesses and landlords will now have until ‘at least 2020’ to get plans in place and become familiar with the necessary reporting requirements that digitalising tax (and accounts) will entail.

So for now we can all breathe a small sigh of relief – phew! but it doesn’t mean we can shelve plans altogether. Our CAT (Cloud Accounting Team) are here ready to hold your hand through the process and advise on the best packages available to suit you and your business as soon as you are ready. To arrange your free initial consultation and get a head start contact Kristina Gash on 01228 530913 or drop her an email

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