As the soft-landing period of the Making Tax Digital program ends, companies can incur penalties if they adjudicate their reporting responsibilities. Companies operating the oldest reporting systems are likely to be most at risk. Developers are reluctant to invest resources into old software to bring it up-to-date, instead opting to invest into their current platforms to make them relevant and easy-to-use in relation to MTD. Companies will need to jump on the bandwagon with regards to new software, but should be wary of the time, the requirements and the competition.
Effective date: Not applicable