Two years ago it was proposed that HMRC was to move towards a fully digital based tax system, making tax digital or MTD for short.
This affects all businesses and by the end of the tax year 2018/19 these changes may affect you and your business. By 2020/21 all businesses will be affected.
These changes are coming and you will be expected to update HMRC every quarter.
Quick Books have produced a guide which can be downloaded here.
HMRC have information on their website regarding these changes.
If you have any queries as to how you will be affected and what you have to do in order to adhere to these changes please contact me, Jenny on any of my numbers: