Making Tax Digital

Making Tax Digital for VAT is now in place. The date when you must start keeping digital records and submitting your VAT return to HMRC using MTD-compatible software will vary depending on when your VAT period starts. You must start following the MTD rules from the first day of your first VAT period that commences on or after 1 April 2019.

After this date you will no longer be able to manually complete the nine boxes of a paper-based VAT return, or manually complete your VAT return online at the HMRC VAT portal.

Essentially, most businesses will need to change to using software for their VAT accounting, so why not take this opportunity to switch entirely to digital accounting via software?

Our Making Tax Digital team are here to help you to make the changes necessary to your accounting systems in order to comply with the new requirements.

However, if you are comfortable with your existing record keeping and VAT processes and you are only missing the ability to submit your returns via compatible software, we have bridging software available that can submit VAT returns to HMRC on your behalf. This will satisfy the new regulations for the foreseeable future.

If you’re looking for more information on Making Tax Digital, check out the helpful resources below:

VAT Notice 700/22: Making Tax Digital for VAT

https://www.gov.uk/government/publications/vat-notice-70022-making-tax-digital-for-vat/vat-notice-70022-making-tax-digital-for-vat

Making Tax Digital: how VAT business and other VAT entities can get ready

https://www.gov.uk/government/publications/making-tax-digital-how-vat-businesses-and-other-vat-entities-can-get-ready/making-tax-digital-how-vat-businesses-and-other-vat-entities-can-get-ready

Or if you would like to discuss Making Tax Digital in more detail please