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IR35 in the Private Sector

September 19, 2019

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February 20, 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 that can access HMRC’s API (Application Program Interfaces) platform.

 

The requirements do not apply to VAT registered businesses with taxable turnover below the VAT threshold (eg, those that have registered voluntarily).

 

If you are unsure whether this applies to you or want to make sure you are ready please get in touch for a free no obligation chat.  email enquiries@accountingperspectives.co.uk or phone 02920 860140

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