We are now within six months of commencing the Making Tax Digital (MTD) submission of accounts for owner managed businesses and SMEs with turnovers in excess of £85,000. In meetings with practices we are finding planning at various stages and some flexibility in the solutions adopted. As with the General Data Protection Regulation (GDPR) compliance, Making Tax Digital will provide the same sort of challenge and evolutionary change and monitoring will be required after April 2019.

There are a number of pre-Making Tax Digital related issues which need to be addressed, including which system will be used as a default and the challenges around encouraging clients to move onto this system.