“Making Tax Digital is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs – meaning the end of the annual tax return for millions.” HMRC online.
HMRC’s plans for Making Tax Digital mean that most businesses will be expected to submit certain income and expenditure details every quarter from April 2018 via their accounting software.
Here at Farmplan we provide a range of accounting software solutions specifically for the agricultural sector, our customers will be required to adhere to this new scheme too.
We are on HMRC’s list of software developers and working with them, and a number of professional consultants, on the best way to implement Making Tax Digital into our leading program, Business Manager.
Keep an eye out for more details from us as this year progresses.
In the meantime, if you would like more information on Making Tax Digital please visit HRMC website: