Making Tax Digital
Revised and up to date for 2024/25. This course will help you get to grips with the Making Tax Digital project, and the changes it is bringing. You will explore the latest timelines in place for businesses and individuals making the transformation, as well as the practicalities involved.
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This course will enable you to
- Familiarise yourself with the latest MTD timelines in place for businesses and individuals making the transformation
- Implement the necessary software and training requirements for MTD
- Consider the practicalities, costs and benefits of MTD
- Discover the various transitional stages for the MTD project and key future changes we can expect to see.
About the course
There is widespread agreement that the government's Making Tax Digital (MTD) project is the right approach for the future, but there are still concerns about the scale of the changes, particularly as we emerge from the pandemic. From 1 April 2022 onwards, nearly all VAT-registered businesses will be required to keep digital records for VAT purposes and submit their information to HMRC using digitally linked software.
This course familiarises you with the MTD scheme, and the changes it is bringing. You will explore the latest timeline of these changes and the costs and benefits involved. Get to grips with the actions you should take to comply with the requirements, including software and training requirements for both yourself and other staff members. You'll also discover the practicalities involved for businesses and individuals making the transformation along with details on MTD for Income Tax Self Assessment (MTD for ITSA) which is currently being phased in.
Look inside
Contents
- The timeline for Making Tax Digital
- Getting started with Making Tax Digital
- Coming into effect
- The key dates
- Understanding digital reporting for businesses
- Software requirements for MTD
- Incorporating MTD for VAT
- Software for MTD
- Specific software requirements
- What the legislation says
- Understanding digital links
- Choosing the right software
- Software providers
- Understanding the practicalities
- Costs and benefits
- Practical challenges
- Opportunities of MTD
- Facing internal issues
- Training and support for MTD
- The future of MTD
- Beginning the transition
- Penalties for late submission
- What the future holds
- The impact of MTD on income tax
- MTD for corporation tax
How it works
Reviews
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Access to this course | ||||
Total CPD unitshourshours | 4 unitshourshours | 21 units20 hours21 hours | 1,500+ unitshourshours | 1,500+ unitshourshours |
Access period | 120 days | 120 days | 12 months | 12+ months |
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Immediate access to our entire CPD catalogue | ||||
Monthly webinars, 15-minute CPD Bites, video interviews with industry leaders, and more! | ||||
Account manager on hand to support your team’s needs | ||||
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Use ACPD101 for 10% off any purchase.