Recent reports in the press (October 2018), have highlighted the fact that HMRC has only fully tested 23 software products compatible with Making Tax Digital (MTD) due to delays in rolling out the full trial.
Recent research has shown that over 40% of small-business owners are still not aware of Making Tax Digital.
From April 2019, VAT registered businesses with turnover over £85,000 will be required to keep a digital record of their VAT transactions, and submit their VAT returns using Making Tax Digital-compliant software.
Every year, more and more businesses are moving their accounts to the Cloud - and as the launch of HMRC’s Making Tax Digital approaches, that migration is likely to pick up speed.