HMRC’s Making Tax Digital director Theresa Middleton said on Tuesday that she expected to see end-to-end MTD software in the next couple of months that will be able to keep digital records digitally, categorise expenses and produce a summary submission for HMRC. HMRC will record the details and present them to the taxpayer in their personal tax accounts.

This will impact all small businesses and landlords with income of £10,000 or more – from Apr18 you will have to submit quarterly returns to HMRC using digital software. If you are a client of Leep, then you have nothing to do – we will do this for you. Call or email us on 01733 699033 Contact@leepfinancial.co.uk