HMRC consultation: Making tax digital: Corporation Tax
16 November 2020
HMRC has published a new consultation, which reviews the potential design of the Maxing Tax Digital (MTD) system for incorporated businesses and other organisations within the charge to Corporation Tax.
The consultation was published on 12 November 2020 and will close at 11:45 pm on 5 March 2021.
HMRC is seeking feedback from companies and other organisations within the charge to Corporation Tax, agents, professional bodies and software developers in order to establish the design of MTD for Corporation Tax.
In July 2020, the Government published ‘Building a trusted, modern tax administration system’, which confirmed that MTD would be extended further and advised that HMRC would be consulting later on in the year about the design of what the MTD system should look like for Corporation Tax. Businesses that have incorporated to become companies are also entitled to the benefits associated with MTD for Corporation Tax.
The consultation can be responded to by either email or post, and various virtual events will be held to understand the views of those who could potentially be impacted by MTD for Corporation Tax, or who have a keen interest in the consultation. Further details will be made public in due course.
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