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Digital changes
KEY POINTS
- Making Tax Digital (MTD) is the biggest change to tax compliance in a generation.
- From 1 April VAT submissions to HMRC must be filed using integrated automated gateways (APIs).
- MTD for both income tax and corporation tax is anticipated to follow from April 2020.
- Record-keeping must be digital minimising the scope for error in calculations too.
- Research by the House of Lords Economic Affairs Committee indicates that one-third of businesses are still unaware...
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