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Effective from 5 April 2025, the UK government will introduce new mandatory tax return requirements impacting sole traders, partnerships, trustees, and company directors. These changes aim to enhance the accuracy of tax data and streamline the reporting process.
Making Tax Digital (MTD) is an initiative transforming the way businesses and individuals handle their taxes; it is designed to simplify tax and accounting processes and will help to reduce the tax gap in the UK. In this article, we will explore what MTD is, what it means for...
