Microsoft Dynamics NAV, 365 help UK firms comply with Making Tax Digital
Next year, business in the United Kingdom will be required by law to start using the Making Tax Digital for Business system. The initiative, which will roll out in phases, requires businesses to register, file and pay taxes as well as update their information using a new online tax account.
The requirements of Making Tax Digital (MTD) apply to the UK's value-added tax (VAT), an indirect tax applied at the consumption of most goods and services. The two broad requirements are: