Making tax Digital (MTD) is a huge shakeup of the UK’s taxation system. Until recently, under the Making Tax Digital proposals, all landlords would have been required to submit quarterly returns from April 2019. That’s all changed now.
Assuming you’re not rushing to register for MTD voluntarily this April (and we don’t imagine there are many that are!), the good news is that you have plenty of time to get your house in order (no pun intended).
The first thing you should do is sort out your accounting system. MTD requires that landlords maintain their records in a digital format. If you are currently using old-style accounts ledgers, you need to embrace the modern digital age.
For more on Making Tax Digital, download the free Making Tax Digital Collection.
