Podcast: Inside Accountancy Episode 6 - The future of MTD
In our latest podcast, Andy Dancer, CTO of Tax Systems, talks to Tom Lemmon about what to expect in the next phases of MTD.
In the latest episode of Inside Accountancy, Andy Dancer, CTO of Tax Systems, talks to Accountancy Age reporter, Tom Lemmon about what to expect as Making Tax Digital (MTD) moves into its next phase.
MTD for VAT is surely just the first step in the digitalisation of the UK tax regime as demands for increased tax transparency increase. From next year digital links will be mandatory, requiring data collection to be automated and following the successful implementation of MTD for VAT, MTD for income tax and MTD for corporation tax are set to follow.
In the podcast we discuss:
- What to expect as the next steps for MTD
- Why traditional, manual approaches to tax are being phased out
- What challenges there are for MTD in the short-term
- What the main changes are for large organisations
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