On 1 April 2019 (this was not a joke!!) HMRC introduced Making Tax Digital (MTD) for VAT. Businesses above the current VAT threshold of £85,000 have since needed to submit their VAT returns using “functional compatible software”.
As of 1 April 2022, all VAT registered businesses will be required to use MTD for their VAT accounting and to submit their VAT returns. This will include an extra 700,000 businesses that are currently VAT registered but are below the current threshold.
Many of these businesses may not have the software available to do this but here at Hawsons, we can help.
Please contact us should you require any information on this or any other VAT problems you may have.
More from our tax experts
You can find all of our latest tax articles and tax resources here.
If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.
Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.
Free initial meeting
Stephen Charles
Tax Partner, Sheffield
Related content
Advisory fuel rates for company cars
HMRC has published new advisory fuel rates for company car users which take effect from 1 June 2024. The rates have increased by 1p per mile for most petrol and diesel cars. Petrol cars with an engine size over 2000c have seen a larger increase of 2p per mile. The LPG...
Inheritance tax planning guide
Inheritance tax planning How can I reduce any inheritance tax liabilities? Planning ahead allows individuals and couples to employ strategies for reducing the value of their taxable estate, helping them stay under the inheritance tax threshold. Annual gift allowance...
Abolition of Furnished Holiday Let Regime
If you own furnished holiday home, you may need to take action before 5 April 2025 due a recent Budget announcement. Capital gains tax on residential property In the Spring Budget, it was announced that the top capital gains tax rate on the sale of residential...