Making Tax Digital for Corporation Tax online consultation process launches

Jan 18, 2021

In November 2020 HMRC launched their consultation on the design of Making Tax Digital (“MTD”) for Corporation Tax (“CT”) which this Institute will be responding to. The consultation closes on 5 March 2021. Last week HMRC launched a streamlined online version of the consultation for small businesses. Both the streamlined consultation and the full version can be accessed at: https://www.gov.uk/government/consultations/making-tax-digital-for-corporation-tax.

The streamlined consultation is designed to provide a fast and accessible opportunity to review key summarised sections of the consultation and answer short questions to provide feedback on those areas.

HMRC is seeking to work collaboratively on the design of MTD for CT and has launched the streamlined version to enable a wider range of interested parties to provide feedback on the consultation proposals.

A number of virtual consultation events also continue to be held details of which, including registration details, are also available at the link above.