Making Tax Digital Service – paper to digital

From April 2019, businesses, who are registered for VAT and over the threshold must use the MTD service to keep records digitally and use software to submit their VAT Returns (except those that are deferred until October 2019)

Other taxes will NOT be mandated until at least April 2020. This has now been delayed to at least April 2021.

You will need to capture all of your record keeping on any device (laptop, tablet etc) and as close to real time as possible.

You will need to use software, there are many out there that provide this. For those that use Excel, there are bridging software to enable you to perform and submit the VAT return.

Your VAT Returns to HMRC are sent via API (Application Programming Interface) and NOT through the VAT portal. The return is complied by pulling the data from digital records. HMRC do not receive all your transactions details, just the figures required for VAT.

The dates for your returns and payments will not change.

The VAT return does not change. Its the same 9 box return.

There is no change to VAT Special Schemes.

If you need any help or to act on your behalf to HMRC and submitting and compiling VAT, please contact us for further information.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.