Making Tax Digital Deadlines
Making Tax Digital for VAT registered businesses starts this year. Virtually all registered businesses will have to comply, but not necessarily from 1st April 2019. Photography: Paul Melling
Do you know when you need to be ready and who you can turn to if you for advice?
Kevin Carey, managing director of McDade Roberts tells us we are helping hundreds of clients get ready for the changes. 1st April isn’t far away, but HMRC has announced a revised start date for some types of business and other organisations which make VAT applicable transactions.
Who needs to be ready by 1st April 2019?
The 1st April 2019 deadline for Making Tax Digital will apply if you are required to be registered for VAT, unless you are exempt.
What if I am exempt?
If you’re currently exempt from submitting your VAT returns online, you’ll also be exempt from MTD. HMRC plans to write to every business exempt from online filing to confirm that MTD won’t apply to them. If you haven’t heard by mid-March 2019, or think you should be exempt from MTD, contact the HMRC.
If you are not exempt and MTD applies to you, HMRC will prevent you from submitting your VAT returns in the normal way. The only way to send your quarterly VAT figures after 1st April 2019 to HMRC will be to use MTD compatible software.
Still confused?
Not sure if you are exempt, what software to use or who is going to do the submissions for you in your business? Give us a call. We have been preparing for Making Tax Digital for a long time and we are happy to provide a free consultation to see if we can help your business get through the Making Tax Digital changes in one piece.
Call us today on 01772 717110
www.mcdaderoberts.co.uk
