UK MTD pilot extends to partnerships and flat rate scheme
- Jan 11, 2019 | Richard Asquith
The UK’s HMRC has announced that it has extended its Making Tax Digital for pilot testing to partnership and flat rate scheme VAT returns.
Tax payers in this group my now test their accounting or API-enabled spreadsheets in the MTD development sandbox.
MTD from 1 April 2019 for over 1million businesses
MTD is the new programme to upgrade UK tax reporting to digital preparation and filings. The aims include removing manual intervention and making the exchange of information with tax payers more efficient and transparent. VAT is the first tax to launch this year, with plans for corporate and personal income taxes in 2020.
From 1 April 2019, over 1 million registered businesses will have to file their VAT returns through HMRC’s new API-protocol. The old manual keying-in on HMRC’s website will be halted. A small group of tax payers (group returns; non-residents; public bodies; charities etc) have been given a 6-month deferral until 1 October 2019.