Making Tax Digital for business update – Corporation Tax part 4 of 4
The announcement made by the Treasury in July did not contain any significant content on Making Tax Digital for Corporation Tax.
We are anticipating a consultation paper to be issued in the Autumn of 2020 which will detail how HMRC will roll out Making Tax Digital to incorporated entities with Corporation Tax obligations.
As with income tax, rolling out MTD for Corporation Tax is fraught with difficulties as a result of the general complexity of the tax system in the UK.
We will update you with more information once the consultation document is issued in the Autumn.