How should you go about choosing an MTD solution? We summarise the seven things to look out for.
Making Tax Digital was always going to be an ambitious undertaking. The simpler requirements of VAT made it an ideal candidate for testing the water, preparing the way for the digitalisation of more complex taxes, corporation tax and income tax. But will businesses have to invest again?
In the third of this six part series (3/6), in conjunction with Tax Journal magazine, we explore the three solution choices businesses face and suggest some smart criteria for picking your Making Tax Digital for VAT software.
In the second part of this six part series (2/6), in conjunction with Tax Journal magazine, we look at how you can pre-test the Making Tax Digital for VAT submission process before committing to the pilot thereby enabling the business to avoid reporting errors and familiarise the finance team with the process.