Making Tax Digital
Making Tax Digital (MTD) is a government initiative which will affect how businesses, individuals and other organisations file their VAT returns. Records will need to be kept in digital format and filed online via software.
Currently, all companies above the VAT registration threshold should already be using MTD for VAT. The next change comes into place on 8 April and any companies who are not MTD registered, but are submitting VAT returns via software, will need to sign up to MTD or go back to submitting their VAT returns through the Government Gateway portal. They will no longer be able to submit VAT returns via software without registering for the MTD scheme.
By April 2022 all UK VAT registered businesses will need to be MTD registered, so if you are already using the appropriate software, we would suggest it is best to register for MTD now.
Please contact us for further information on MTD, including:
- Choosing the right software
- Software training
- Setting up an online account
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