Sukhwinder Shunal is an LSBU alumni. Fresh from graduating in July 2020, he spent the next two years focused on completing his ACCA remaining professional papers whilst employed with the NHS. Sukhwinders childhood dream was always to run his own company. Fresh from qualifying as a Chartered Certified Accountant with the ACCA, he plans to register a company providing accounting services, of which he will be a director. Sukhinders new company plans to recruit ten employees who will be paid a monthly salary. Sukhinder has been told that the company will have to make tax returns for his clients online and operate the PAYE system. Sukhinder needs further information on HMRCs Making Tax Digital (MTD) and how the PAYE system works. REQUIRED: Draft a briefing paper for Sukhinder that gives a user-friendly guide to both MTD and the PAYE system. Your report should include as a minimum the following areas: 1. MTD An assessment of the impact of making tax digital The benefits of MTD for VAT and tax revenue MTD key dates 2. P.A.Y.E. Tax codes and tax code suffixes 7 Operation of the system Real Time Information End of year returns Key dates Penalties for non-compliance