Making Tax Digital – monitoring businesses’ awareness

Following the publication of ‘Making Tax Digital – Monitoring Businesses’ Awareness of MTD’, AAT Tax Policy Advisor Brian Palmer says:

The level of awareness from VAT mandated businesses in Making Tax Digital so far (81%) is positive news. The fact that the most common way by far, that businesses had heard of MTD is through a tax agent or accountant shows how important their role is in ensuring the smooth adoption of the system.

In addition, 83 per cent of businesses who are aware of MTD having started to prepare shows that a good number will be ready by the time of the go-live date and face minimal disruption. 

Yet there’s still almost a fifth of businesses liable who the message needs to be communicated with, and who may not have started to prepare. So, we’re pleased to see that HMRC will now be ramping up its communications, using different channels to reach those last businesses. 

We at AAT urge all small businesses affected by MTD to get onto the pilot as soon as they can, to ensure they can get to grips with the system as quickly as possible, as the mandation date approaches.”