What, however, do the MTD rules mean in practice?
HMRC research suggests many people are unsure which developments apply to them. We look here at what’s known so far, and what might affect you.
MTD: what are the rules on records and software?
MTD involves keeping and preserving specific accounting records in a prescribed digital format, and transmitting information to HMRC digitally. It does not mean having to scan and store receipts and invoices digitally, as originally envisaged.