UK Puts Aside Its Making Tax Digital Program for Corporations

The UK tax office released a roadmap Monday for a more modernized and automated tax and customs system, while discarding a so-called Making Tax Digital plan for corporations.

His Majesty’s Revenue & Customs said it is developing a plan that will be better suited to the different needs of a diverse corporate population.

“HMRC will modernise services for Corporation Tax (CT), beginning with a renewal of internal systems for CT to provide the foundation for future improvements,” the tax office said. Under MTD rules for other groups, taxpayers must keep digital records and use commercial software to submit quarterly income ...