Making Tax Digital (‘MTD’) for VAT is the first phase in what is intended to make the UK tax system more streamlined and will bring about major changes to affected businesses.
As part of the new legislation, businesses that are VAT registered and trading over the VAT registration limit on 1 April 2019 will be required to keep their accounting records digitally and submit their VAT return to HMRC through MTD compatible software. This means businesses will no longer be able to submit manually through the HMRC gateway. It is vital that all affected businesses are aware of their obligations relating to these changes and the processes which need to be put in place to make them compliant. We are urging all UK business owners to consider their options now to ensure that they are compliant in time for the deadline of 1 April 2019. PM+M have already helped numerous clients prepare for MTD and will continue to support businesses as they start the process to comply with HMRC’s new rules. We would be more than happy to answer any questions you have about MTD and advise you on the best route to take for your business. Please feel free to:
- Read our helpsheet
- Attend one of our FREE Making Tax Digital seminars to find out more about the implications of MTD:
Tuesday 11 September East Lancashire Chamber of Commerce, Red Rose Court, Clayton Business Park, Accrington, Lancashire, BB5 5JR (register your place here)
- Call into one of our FREE MTD drop-ins – with no appointment necessary, call into our offices from 9am – 5pm on one of the below dates for a free consultation with a specialist MTD consultant who will talk you through your next steps and provide guidance on which software to use and how / when to implement this into your business:
- Get in touch with us for a consultation on how to prepare for MTD, which will be followed by software set up and training – we would welcome the opportunity to sit down with you to discuss your options in more details. Once you have chosen your preferred cloud software package, we will then provide you with setup assistance, alongside ongoing support whenever you need it. We will also train you and your team on the best ways to use whichever system you have decided to use.
For any further information, help or advice with your Making Tax Digital requirements, please do not hesitate to contact us on 01254 679131 or email MTD@pmm.co.uk