It’s been a while since we last discussed Making Tax Digital (MTD) and we have been busy working on our solutions. With the new fiscal year around the corner it’s a good time to share our progress with you.
Last year we delivered not only the ability to import client data direct from HMRC we also introduced functionality to allow our customers and their clients to take part in the HMRC pilot of MTD quarterly filing for Income Tax. While other vendors are busy talking about their roadmaps and the solution they intend to build we have already delivered it and our customers have been the first to make successful MTD submissions to HMRC.
Just as we did with FRS implementation our early delivery of MTD functionality not only gives our customers (and their clients) the time and opportunity to get to grips with a new regime and adjust process as required, it allows us time to tweak and improve the system based upon the valuable feedback we receive from those who use it.
We will continue the roll out of this functionality as and when it becomes available from HMRC, so that IRIS customers are always at the forefront of Making Tax Digital. Our aim is to make the adoption of MTD as painless as possible and deliver productivity benefits to our customers as they embark on their digital transformation.
HMRC are hoping to come out of the pilot for Income Tax MTD filing and into a public Beta very soon. The pilot is currently only open to individuals with income from only one trade and/or rental income, if you are interested in taking part and have a client (or several) that meet this criteria feel free to get in touch with me at MTD@iris.co.uk and we can get you and your client(s) subscribed and registered with HMRC
HMRC has today published its Software Choices page for agents or businesses wishing to take part in the Making Tax Digital pilot for income tax here.
This means that you and your clients are now able to join the pilot and providing you have software that is MTD compatible you will be able to start making updates. The pilot is still only open to individuals with income from one trade and/or rental income, but other types of income will be added as we progress through the year.
If you want to start making MTD submissions you will need to register here for an HMRC agent services account.
Getting involved early not only gives you the time and opportunity to get to grips with a new regime, it allows us time to tweak and improve the system based upon our customers’ valuable feedback. We want to make the adoption of MTD as painless as possible and deliver productivity benefits to our customers as they embark on their digital journey.
Visit our MTD Hub for more information on Making Tax Digital.
X
Facebook
LinkedIn
WhatsApp
Mail
Copy link
