Earnr AI, your new tax assistant, is here. Check it out now!
Stressed by tax?
Get Earnr Pro

Making Tax Digital (MTD)

[ˈmeɪkɪŋ tæks ˈdɪʤɪtl (ɛm-tiː-diː)]



Making Tax Digital (MTD) is a UK government initiative that hopes to make the tax system more efficient and easier through digital records rather than paper.

More detail:

Making Tax Digital (MTD) is scheme by the UK government that requires businesses and individuals to keep digital records rather than the physical ones. These digital records are then used to make the tax system more efficient and easier.

Currently the changes only impact VAT-registered businesses but HMRC are hoping to run Income Tax and Corporation Tax via the scheme by 2026.

MTD aims to reduce errors as online software should make less mistakes. There will also be quarterly updates rather than annual ones.

Back to Taxionary

You might also like...

decorative image for a blog

Submit your 22/23 Tax Return Before January 31st

January 31st is the deadline for submitting 2022/23 tax returns. It's a good idea to complete your tax return ahead of this deadline to avoid mistakes and potential penalties. This article shows why its a good idea to submit your tax return early and how Earnr can help you if you are stuck.

Read more
decorative image for a blog

We asked Earnr AI why you should use Earnr…. here’s what it said…

We recently introduced our newest addition to the Earnr team; our AI chat bot, Earnr AI. In this article we put Earnr AI to the test and asked it why you should use Earnr as your tax companion, bookkeeping tool and tax return assistant. Read it's excellent response!

Read more
decorative image for a blog
December 20, 2023
Tax essentials

Why should you submit your tax return over the Christmas period?

The festive period is often thought of as the busiest time of the year with the run up to Christmas and New Year. Whilst this period can feel hectic at times, it can also be seen as the perfect time to complete your tax return. In this article we explain why this Christmas time is the best time to submit your 22/23 tax return.

Read more
Earnr logoDownload earnr