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MTD will be limited to VAT

All businesses that are subject to VAT have been obliged to prepare for submitting VAT returns through commercial software from April onwards (Making Tax Digital). On top of any changes required as a result of Brexit, this has been a  steep resource curve for most small businesses. The good news is that the chancellor this week, confirmed no other tax reporting will be subject to MTD during the tax year ending April 2020. A full copy of the Chancellors speech transcript this week is here.