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It is the April 2020 phase of MTD introduction that will cause most issues. How are the three reforms going to affect over one million VAT registered businesses in 2020?
Congratulations if you are one of the hundreds of thousands who successfully filed on the new HMRC MTD platform following its introduction in April this year. But that was the easy bit. Now it’s the end of the ‘soft-landing’ in April 2020, and time to prepare for the three major changes: digital bookkeeping, digital journey and, the clincher, penalties. It is this April 2020 phase that will cause the issues. How are the three reforms going to affect over one million VAT registered businesses in 2020?
Read more at the Accountancy Age.