Category: Making Tax Digital

Making Tax Digital (MTD) for VAT went live on 1 April 2019. VAT registered businesses with VATable turnover above the VAT registration threshold of £85,000 are required to comply with the requirements of MTD for VAT from the start of their first VAT accounting period beginning on or after 1 April 2019. For certain businesses,…

Making Tax Digital (MTD) is the biggest change to tax compliance in a generation, although initially it applies only to VAT. For VAT quarter beginning 1 April onwards, VAT registered businesses with a turnover of more than £85,000 will have to keep digital records and send returns using MTD-compatible software. Businesses with a taxable turnover…