The requirement to keep digital links if you are already caught under Making Tax Digital (MTD) rules came into force from 1st April 2021 as part of the second phase. HMRC defines a digital link as transfer of data between software programmes or applications.
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HMRC will require businesses (including landlords) to keep digital records of all their business income and expenses and report on a quarterly basis using functional compatible software.
Digital transformation simply put is the process of using digital technology to modify current business process to bring better performance
The Chancellor said the aim was to “give everyone the opportunity of good and secure work, so no one is left without hope.”