MTD for VAT (MTDfV) wasn’t conceived in a vacuum. It is part of a wider trend that will see automation of finance and tax compliance become the norm as regulatory requirements and HMRC’s desire for tax and data transparency grows. MTDfV is the forerunner and will be followed by the digitalisation of income tax and corporation tax from 2021.
With this in mind, it is worth considering data management and future MTD compliance requirements today when executing an MTD strategy.
This guide examines how finance directors can both comply with the government’s MTD scheme and benefit process efficiencies.