No mandation for other taxes in 2020

There will be no mandation of Making Tax Digital for any new taxes or businesses until 2021. 

Chancellor of the exchequer Philip Hammond confirmed in his spring statement however that the government remains committed to the introduction of MTD for VAT for businesses with turnover above the VAT threshold which comes into force on 1 April. He added that HMRC would take ‘a light touch approach’ to penalties in the first year of implementation. ‘Where businesses are doing their best to comply no filing or record-keeping penalties will be issued ’ he said. 

Brian Palmer tax policy expert at the Association of Accounting Technicians said: ‘News that there will be no further mandation of MTD until 2021 will come as a great relief to many businesses and individuals alike. There are other pressures affecting businesses over the next 12 months including the impact of Brexit ...