News & Blog

13 May 2019

The general position is that businesses need to sign up in time to submit their first return that is due under MTD.  This should be after they have submitted their final return using the old system as once they have signed up to MTD they will no longer be able to file returns using the old method.  For most businesses the first return affected by MTD is the one that starts on/after 1 April 2019....

20 Mar 2019

Making Tax Digital for VAT registration (MTDfV) will take seven working days.

The latest HMRC notification updated its guidance for businesses looking to sign up to Making Tax Digital for VAT, pointing out those that pay VAT by direct debit will need to do so at least a week – seven working days - before sending a VAT return.

This means that businesses that pay VAT by direct debit cannot sign up i...

20 Feb 2019

From April 2019 VAT registered businesses and organisations with taxable turnover above the VAT threshold of £85,000 will be required to:

  • Maintain their accounting records digitally in a software product or spreadsheet. Maintaining paper records will cease to meet the legal requirements in tax legislation.

  • Submit their VAT returns to HMRC using a functional compatible software product t...

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