MTD for VAT - what’s the latest?
Recap. From April 2019, legislation will require businesses above the VAT threshold to set up a digital tax account and file quarterly returns online. So if you file your company’s VAT returns in-house, you need to keep yourself up to speed with the latest developments and ensure your current accounting software will be compliant.
Pilot. The Making Tax Digital (MTD) for VAT pilot started on 11 April 2018 and HMRC will open it to public beta testing later this summer, and at that stage publish a list of compliant software providers. Tip. The official advice is to speak to your software provider about the timetable for release of MTD-compliant products.
Webinars. While HMRC has released some MTD for VAT webinars, we didn’t find them very informative. We found a more useful one on the Chartered Institute of Taxation’s MTD page ( https://www.tax.org.uk/policy-and-technical/making-tax-digital ).
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