Making Tax Digital

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From 1 April 2019, Making Tax Digital (MTD) will become compulsory for most UK VAT registered businesses with a taxable turnover above the VAT registration threshold (currently £85,000).

Affected businesses will be required to:

  • submit their VAT return data digitally using software compatible with HMRC’s Application Programming Interface (API) platform; and
  • maintain digital records and a digital VAT account

Affected businesses will no longer be able to submit their VAT return by entering the details into HMRC’s online portal.

All affected businesses should review their VAT accounting processes to establish whether their existing systems and any relevant software meet the stringent MTD requirements. For many organisations, upgrades, add-ons and, in some cases, completely new reporting systems or software will be required.

Further details can be found >> making_tax_digital_seancavanaghandco

Contact

Noel Convery: noel@seancavanaghandco.com

Sean Cavanagh: sean@seancavanaghandco.com

 

Download pdf >> making_tax_digital_seancavanaghandco