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Matching "Making Tax Digital" Tag

4 articles 
 
All growing businesses will become VAT registered. It is not daunting. You just need to become organised with your record keeping and remember your VAT return deadlines. So what should you know about becoming VAT registered? …
From April 2019 VAT registered businesses who have a turnover over the VAT registration threshold (currently £85,000) must use accounting software to file their VAT returns.  If your turnover is over £85,000 you will no longer be able to use the Government Gateway to file a return.  The only businesses which will be exempt from complying with this regulation …
Making Tax Digital (MTD) is HMRC's term for submission of tax information online.  The revised implementation date was announced in July 2017 and now we have a little more information about what will be expected. From April 2019 VAT registered businesses over the VAT registration threshold (£85,000 for 2017-18) will have to submit their monthly or quarterly VAT returns online through their accounts software.  VAT registered businesses below the VAT registration threshold will not be required to but can submit in this way voluntarily.  If you submit annual VAT returns you will be able to continue to do this.  …
Last week HMRC finally announced their revised plans for Making Tax Digital (MTD) after it was put on hold whilst the election process took place.  Originally MTD was to be implemented for businesses over the VAT registration threshold from April 2018 but this now won't be mandatory until April 2019.…
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