What is Making Tax Digital ( MTD)?

You might have heard of making tax digital recently and wondering what it's all about and how it relates to your business.

Making Tax Digital is a government initiative to modernise the submission of tax returns.

Making Tax Digital is already in place for VAT, with future plans to include Income Tax by 6th Apil 2026.

Do I need to register for making tax digital?

All VAT registered businesses should now be signed up for MTD, as per the government website.

You'll need to submit your VAT returns using compatible software, such as Quickbooks, Xero or Sage.

What software can I use for making tax digital?

At East Neuk Bookkeeping, we'd reccomend you to use Quickbooks Online for Making Tax Digital as we find it offers the best deals, fantastic levels of support and easy access for your bookkeeper & accountant to help manage your VAT returns for you if you need additional support.

Do I need an accountant or bookkeeper for making tax digital?

If you're happy to set it up yourself, you could be all means submit it by yourself. However if you'd like some assistance with the process, then we're more than happy to help you set it up, make submissions & offer you any guidance.