MAKING TAX DIGITAL
Time is ticking away before the 1st April 2019 deadline – it’s just 31 days away!
For all VAT registered businesses with a taxable turnover above £85,000, you will need compatible software in order to submit your VAT returns to HMRC commencing from 1st April 2019.
To comply with Making tax digital (MTD) for VAT your business must:
· Keep digital records, using MTD compatible software.
· Submit your VAT return to HMRC through HMRC’s new portal using MTD compatible software (HMRC’s existing online portal will no longer be available).
If you are already keeping your business records on Sage Accounting, you must ensure your software is MDT compatible.
Please get in tough should you wish to discuss how your business will need to be ready for MTD.