TaxCalc Blog

MTD: A message from Tracy Ebdon-Poole, CEO, TaxCalc

It came as no surprise to us that HMRC has postponed the launch of MTD, given the pressure they were under from accountancy bodies and affected businesses. This will give them the opportunity to focus on a successful, engaged delivery with realistic timeframes and enhance communication in much needed ‘Plain English’.

That said, for the last two years we have been working, and communicating on an ongoing basis, with HMRC’s policy and software development teams. We have always enjoyed a high level of collaboration with them. I am confident this will not change going forward. In essence, this means that we can continue representing our customers, communicating their needs and empowering them to seize the opportunities that change can bring.

THE TOPLINE STORY

• MTD for Income Tax has been deferred until at least April 2020
• A new timetable for Making Tax Digital has been announced by HMRC

 From April 2019

Businesses with a turnover above the VAT threshold will be required to keep digital records and file VAT information ONLY from April 2019 (MTD for VAT).

 From April 2020

All businesses will be required to keep digital records and update HMRC quarterly for Income Tax from April 2020 at the earliest.

Since HMRC’s plans were first made public, we’ve kept close tabs on all MTD-related developments. As a company committed to innovation, we’re agile enough to respond to change, delivering products at the right time that simply do the best job. Our customers know us for developing smarter products that adapt to meet their ever-changing world. They can rest assured that our future MTD solutions will be equally effective and appropriate as the other TaxCalc products they already know and trust.

 We will also continue to develop new products to complement our existing portfolio of tax and accountancy solutions. We’ve recently released a number of enhancements to our practice management solution, TaxCalc Client Hub. Two new Company Secretarial products, TaxCalc Company Incorporator and TaxCalc Company House Forms are due for launch in the coming weeks. Watch this space!