MTD is a new way of submitting tax to HMRC which, combined with a set of principles, has been designed to reduce errors and improve tax filing timeliness. This will involve the increased use of software to automatically process accounting and tax filing data from its time of capture, e.g. data entry from an invoice, to the point of submission.
The first MTD tax filing system to be introduced by HMRC was VAT. Self Assessment will be next, possibly followed by Company tax, although this is yet to be confirmed.
The Ftax VAT tax filing form is already fully compliant with MTD. Ablegatio is fully committed to follow future HMRC MTD initiatives, and to upgrade the Ftax service accordingly.