All VAT Registered businesses with turnover above the VAT threshold (currently £85,000), will have to submit their returns under Making Tax Digital (MTD). This is mandatory for all VAT periods commencing on or after 1st April 2019.
Over 1 million businesses need to sign up for Making Tax Digital, so you are not on your own, if you’re using Xero the transition is an easy one, there’s just one step to take, to connect HMRC with your Xero. If you are using Sage, they have now released an article that details the steps required to connect to HMRC and file your MTD VAT Return.
We wrote to all of our clients last month regarding action that you need to take, if you have not yet responded to our email then please do so. Alternatively, if you have not seen our email and would us like to send it to you again then please contact us.