Myths and facts around Making Tax Digital MTD for businesses

You need to file your VAT return through approved software. Fact. You will need to use approved software to file your VAT return once MTD kicks in. This can be typically an accounting software such as Xero or QuickBooks or an Excel plugin which will be made by private software companies.

  1. You need to electronically store your Invoices and expense receipts. Fact. Yes, you need to keep a digital copy of these documents.