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New tax system :-<br />
The United Kingdom declared the plan of VAT digitisation during the Budget<br />
2015. The newly introduced tax system is digitally improved and made to deliver<br />
a more compelling service to taxpayers, businesses, as well as to the tax<br />
administration.<br />
The said new and digitised tax system of the United Kingdom is named the<br />
Making Tax Digital or the MTD. The government of the United Kingdom made<br />
this action with the aim to put an end to the long-running tax return and bring a<br />
more progressive tax system in the business and tax industry.
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