What are the consequences of doing nothing about Making Tax Digital?

What are the consequences of doing nothing about Making Tax Digital?

What is Making Tax Digital (MTD)? By April 2019 all VAT registered businesses in the UK above the VAT threshold (£85,000) will need to switch to a digital tax system and report VAT quarterly using HM Revenue & Customs (HMRC) complaint online accounting software. MTD is designed to bring the UK tax system into the 21st century by providing businesses with a streamlined, digital system Read more…