MTD to go ahead

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MTD plans for small businesses will go ahead The Government has said plans for small businesses with a turnover above the £85,000 VAT threshold to be required to submit quarterly returns online will go ahead from April 1st. The Chancellor reaffirmed the plans for Making Tax Digital (MTD) during his Spring Statement but promised firms they would not face fines if they do their best to adapt. However, similar reporting standards for income tax, expected to be introduced in April 2020, have been pushed back by at least a year.

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