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HMRC has launched a new interactive making tax digital (MTD) tool, ‘check if you need to use making tax digital for income tax’.
The tool includes questions on:
- MTD exemptions;
- the reasons a taxpayer needs to submit a self-assessment return;
- the relevant tax years a taxpayer will file a return; and
- the taxpayer’s qualifying income in those years.
It provides a result confirming whether the taxpayer will be within the scope of MTD ITSA and whether the taxpayer may be eligible to apply for an exemption when that process opens.
The tool also identifies the next steps that taxpayers and agents should take in preparing for MTD ITSA.
