New steering from the UK’s main tax and accounting skilled our bodies has been revealed to assist advisers put together for the rollout of Making Tax Digital for Revenue Tax (MTD for IT) from April 2026, with a deal with how Skilled Conduct in Relation to Taxation (PCRT) applies in observe.
The interim steering, issued collectively by AAT, ACCA, ATT, CIOT, ICAS, ICAEW and STEP, outlines expectations for members offering providers that assist digital document conserving, quarterly updates, and year-end submissions beneath MTD for IT.
A working group from the PCRT our bodies drafted the doc to deal with frequent questions raised by brokers, significantly round accuracy, use of estimates, and the dealing with of third-party information.
“There was some suggestion of submitting 4 quarters of nil figures in quarterly submissions (although there have been revenue and bills in these quarters) and together with all entries within the year-end tax return. The steering states this is able to not be the right approach to method MTD for IT beneath PCRT rules.”
Quarterly updates have to be factually right, the steering stresses — and never based mostly on assumptions, estimates, or prior information until supported by HMRC easements. Submitting nil returns or placeholders in anticipation of updating figures later doesn’t align with PCRT requirements.
Ten FAQs revealed to deal with frequent agent considerations
The brand new steering is structured round ten key questions, together with:
- What degree of accuracy is predicted in quarterly submissions?
- Ought to errors found post-submission be corrected in later updates?
- What if information is supplied by a third-party bookkeeper?
- How ought to corporations handle consumer transitions between brokers?
Whereas not all quarterly submissions require the identical degree of overview as a ultimate tax return, members should nonetheless apply applicable checks {and professional} judgement when submitting MTD updates on behalf of shoppers.
The doc additionally clarifies that PCRT applies to any member concerned in delivering MTD-related providers, no matter whether or not they’re tax-qualified. This consists of workers helping with submissions or managing digital instruments.
Additional updates to the steering are anticipated as mandation attracts nearer and HMRC clarifies ultimate operational particulars.
