Making Tax Digital / 1 posts found

Spreadsheets and VAT from April 2019

by mike tombs
in VAT
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Making Tax Digital (MTD) is HMRC’s long running intention to make an electronic link with the accounting data of UK businesses. The idea is to draw in the data they need directly from your computers using links provided by your software developers for this purpose. Which is fine if you are using accounts software that will accommodate these changes. The first implementation deadline for MTD is 1 April 2019, when all businesses registered for VAT, and with turnover in excess of £85,000, will need to submit returns using HMRC’s MTD processes. Certainly, the accounts software that we use to prepare [...]