BLOG – Manselters

The Cost of Non-Compliance: Understanding Making Tax Digital Penalties

ByRopa Muntanga MAAT March 11, 2025March 11, 2025

A question we get asked by clients when we talk about Making Tax Digital (MTD) is will the penalties change? The answer to that question is yes there was a penalty system introduced on January 1, 2023 which includes new penalties if you fail to meet the MTD requirements. Penalties: Failing to keep required information…

Making Tax Digital (MTD) – What does it mean for you?

ByRopa Muntanga MAAT March 4, 2025March 10, 2025

So, if you are a business owner, and maybe even not a business owner, you will have heard the words Making Tax Digital or MTD at some point by now. This is the UK government’s initiative aimed at simplifying and modernizing the tax system by moving business record keeping online. What does Making Tax Digital…