Proposed updated timetable:
- VAT registered businesses, with turnover over the VAT threshold will be mandated into the MTD reporting system from 2019.
- Property landlords and small business trading below the VAT threshold will join MTD from 2020, although they may opt in to MTD earlier if they wish to do so.
- There is no news on what is proposed for companies, however the government is currently looking at reform of corporation tax.
| Year | Which tax | Who | Exceptions |
| 2019 | VAT | Self- employed individuals who are VAT registered | Business with a turnover of less than £10,000
Business engaged in excluded activities The Digitally Excluded Insolvent business Charitable trusts See MTD: Toolkit for Accountants & Advisers |
| 2020 | Income tax & Class 4 NICs | Self-employed individuals and landlords | |
| 2020? | Corporation tax
Income tax & Class 4 NICs |
Companies
Large partnerships |
Comments: The deadline and requirements looks unrealistic and complicated burden for all involved, especially the end user.
Source, HMRC, Rossmartin