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AcoBloom International
AcoBloom International is an Accounts & Tax Outsourcing Company in India, delivering sustainable growth & profitability to accountancy & CPA firms in the UK & Australia.
What is Making Tax Digital?
What is Making Tax Digital?
Making Tax Digital is a key part of the UK government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs.
HMRC’s ambition is to become one of the most digitally advanced tax administrations in the world. Making Tax Digital is making fundamental changes to the way the tax system works – transforming tax administration so that it is:
- more effective
- more efficient
- easier for taxpayers to get their tax right
This is a first-step towards a long-term goal of requiring real time filing of individual transactions with HMRC. On 1 April 2019, the rules take effect only for VAT. Following this, MTD may be extended for Income Tax and Corporation Tax, from 2020 at the earliest.
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