![]() ![]() While some accountants and bookkeepers may view MTD for ITSA and the shift from annual to quarterly filing as an increase to their workload, this won’t necessarily be the case. MTD for ITSA will mean four times as much work for practices While software providers are working closely with HMRC to develop software solutions, they're not driving the initiative. ![]() It is part of HMRC’s long-term vision to make it easier for business owners, self-employed people, landlords and individual taxpayers to get their tax right. MTD is a government initiative that aims to transform and digitise the UK’s tax administration system. MTD is being driven by software providers In a recent survey*, we discovered that only 14.6% of accountants and bookkeepers are confident that they understand everything about the next stages of Making Tax Digital (MTD) and its impact on the UK tax system.Īs we edge closer to the introduction of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) in April 2024, it’s important to dispel some of the myths that currently surround the initiative.
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