VAT changes from the end of March 2022 are ahead. Are you already registered for Making Tax Digital for VAT? Did you know that MTD registration is mandatory for all VAT registered businesses from the end of March?
From 1 April 2022, all VAT registered businesses will need to be equipped to prepare and file VAT returns using HMRC’s Making Tax Digital (MTD) processes. Traders with turnover above £85,000 have been required to use this process for some time, but from 1 April 2022, VAT registered businesses with turnover below £85,000 will be drawn into the MTD for VAT filing net.
What does MTD for VAT involve?
From 1 April 2022, returns filed will need to be prepared in an electronic format that links to HMRC’s servers. This means that manual records can no longer be used, and spreadsheets will need to be created in a format that links with HMRC.
Cloud accounting solutions
Many if not most of the major bookkeeping software producers have adapted their software to enable MTD for VAT filing protocols.
Registering for MTD for VAT
You can register for the new MTD for VAT system online now, or we can do this for you.
We can help
If you are not using software that complies, please get in touch as soon as possible so we can help you transfer to our recommended software and complete your registered with HMRC.