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.
A change came into effect on the 8 April 2021, and all companies who are not MTD registered, who had previously submitted their VAT returns via software, must sign up to MTD or go back to submitting their VAT returns through the Government Gateway portal. Businesses are no longer 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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