MTD for VAT

Just 4% of firms join MTD pilot Figures released by the Government show that just 20,000 firms have signed up to the pilot scheme for the Making Tax Digital (MTD) initiative, despite HMRC inviting more than half a million to take part after it was launched in October ahead of MTD coming into force in April. While just 4% of companies invited to trial the system had done so, HMRC said uptake had jumped since the start of the year. Anita Monteith, tax manager at the ICAEW, commented: “If I was in HMRC, I would be concerned about the low take-up for the pilot … Business owners are running to catch up. Perhaps they hadn’t appreciated what was required for them to make the policy work.”