The dangers of gaps and inaccuracies when filing digital tax returns
- On June 22, 2022
- By GrowthInvest Marketing
The way that we track, report and pay our taxes is changing. Just as more and more of our lives and activities are taking place online, from shopping to banking and work, our tax affairs are also moving into the digital realm. Making Tax Digital (MTD) is the UK Government’s flagship initiative to take tax online and it’s set to affect us all.
What is MTD?
MTD is a fundamental change to the way that the tax system works. HMRC says that MTD is the focus of its ambition to become one of the “most digitally advanced tax administrations in the world”, making our tax system more effective, more efficient and easier for taxpayers of all kinds to get their tax reporting right.
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