HMRC has launched a new campaign to help customers get ready for MTD for Income Tax. This is, after all, the biggest change to personal tax since HMRC launched Self Assessment more than 30 years ago.
You will start to see more activity around MTD across social media, online and sector specific stations.
The ads stress the need to use recognised software (such as an app on your phone or laptop) to keep digital records of income and expenses throughout the year. Quarterly updates will then need to be sent to HMRC.
HMRC will have its work cut out as figures suggest around 200,000 landlords and self-employed businesses affected by the changes are ‘unrepresented’!
