Last Updated: Mar 20, 2019
Making Tax Digital is an HM Revenue & Customs (HMRC) initiative designed to make sure the UK tax system is effective, efficient and simpler for taxpayers. All VAT-registered businesses with a taxable turnover above £85,000 are required to keep digital financial records and send returns using MTD-compatible software as of April 1, 2019.
By March 27, 2019, FreshBooks will have the tools needed for all eligible UK VAT-registered businesses to submit VAT returns for MTD and ensure their business is fully compliant. These tools will help businesses:
- Record and preserve digital records
- Provide the HMRC with your information and submit returns
- Receive information from HMRC.