How to adapt your practice to Making Tax Digital for ITSA
Date published
December 15, 2022
Company
Wolters Kluwer
Making Tax Digital is radically changing the accountancy landscape. Practices of all sizes are being brought on what feels like a very long journey.
You’ll already be applying Making Tax Digital (MTD) to VAT reporting, as part of the United Kingdom government’s modernisation of the tax system. However, from 6 April 2024, MTD will also apply to Income Tax Self Assessment (ITSA).
Any taxpayer earning £10,000 or more in gross income per annum, derived from business turnover and/or property turnover, will need to comply with MTD regulations. This will affect more than four million self assessment taxpayers across the United Kingdom.
Wolters Kluwer’s Destination: MTD eBook gives your practice and your clients clear guidance on how to comply with the new regulations. It will also show you how reaching Destination: MTD isn’t just a legal necessity – it’s an opportunity for you.
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