Making Tax Digital for VAT (MTDfV) ushers in mandatory new requirements from 2019. However, the change isn’t just about VAT: MTD affects the very way that businesses keep accounting records. Click on the link below to view a factsheet provided by Practice Track outlining how you, your clients or employer can plan for compliance.
Further information can also be found via the links below:
Making Tax Digital: how VAT businesses and other VAT entities can get ready: https://www.gov.uk/government/publications/making-tax-digital-how-vat-businesses-and-other-vat-entities-can-get-ready
VAT Notice 700/22: Making Tax Digital for VAT: https://www.gov.uk/government/publications/vat-notice-70022-making-tax-digital-for-vat
Making Tax Digital for Business – stakeholder communications pack: https://www.gov.uk/government/publications/making-tax-digital-for-business-stakeholder-communications-pack
Making Tax Digital for VAT pilot:
Further information for agents about signing up for the pilot can be found here: https://www.gov.uk/guidance/agents-use-software-to-submit-vat-returns.
Further information for businesses about the pilot can be found here: https://www.gov.uk/guidance/use-software-to-submit-your-vat-returns.