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March Insider 2017

Firms prepare for Making Tax Digital

Businesses will be given at least 12 months to prepare for the transition to digital tax accounts.

Businesses, self-employed people and landlords will need to submit quarterly updates to HMRC and keep their records digitally by 2020, but this will be phased in. The current plan is to start quarterly reporting from April 2018 for landlords and the self-employed, with micro businesses next to come online.

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