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The Accountants for Growth

Submit your VAT Returns electronically - MTD

Submit your VAT Returns electronically - MTD
From April 2019 all businesses with a turnover above the VAT threshold of £85,000 will need to send their VAT returns to HM Revenue & Customs in digital format.
It is vital that you are ready well in advance of the Making Tax Digital start date – it won’t save you tax but it will help save you stress and potential disruption to your business recording systems, not to mention possible penalties.
So what must you do? 
1. The VAT records of a business must be kept in a digital format 
2. The business must provide their information and VAT returns to HMRC using HMRC’s Application Programme Interface (API). 
The business must be able to receive information from the HMRC API platform. 
If you are VAT registered or if your turnover is currently close to the threshold we will be happy to help you plan the transition to the new system and to support your business through these changes 
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