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Making tax Digital
Making Tax Digital (MTD) is a Government initiative that will eventually move all Tax/NIC management and payment online. It mandates digital record keeping and automated filing which will require the use of compliant software. As of April 2019, VAT registered businesses, with a taxable turnover above the VAT threshold, will need to keep digital records for VAT purposes. Other businesses will not be asked to keep digital records or update HMRC quarterly.