28th January 2022 Is Your Business Prepared for Making Tax Digital (MTD) for VAT on 1 April 2022? Article by:Dan InsleyPartner Tax planning & VAT Share Copied Share Copied Making Tax Digital for VAT becomes mandatory for all VAT registered businesses from 1 April 2022. Businesses with a taxable turnover above £85,000 have already been required to follow Making Tax Digital, keeping digital records and filing VAT returns using compatible software since April 2019. From 1 April 2022, all VAT registered businesses must file digitally through Making Tax Digital from 1 April 2022, regardless of turnover. You will be responsible for meeting your VAT obligations and those who do not join Making Tax Digital for VAT may be charged a penalty for failure to do so. We have already assisted a significant number of clients sign up to MTD, and can do the same for you. If your business has not signed up to MTD compatible bookkeeping software then please talk to us urgently about how we can help your business comply with the new law, whether it is advice on which software to buy or to discuss how we might be able to complete your VAT returns on your behalf in conjunction with your annual tax returns. Related articles We like to keep in touch. Not just about what is happening within the firm but we also want to share out insights on topical issues of importance to you. View All Insights 24th May 2023 / Business insights / Tax planning & VAT HMRC late payment interest rates to be revised after Bank of England increases base rate Read Article 16th May 2023 / Insights / Tax planning & VAT Changes to the VAT online account – make sure you are compliant in order to avoid penalties Read Article 9th Jan 2023 / Insights / Tax planning & VAT More time to prepare for Making Tax Digital for Income Tax Self-Assessment Read Article 8th Dec 2022 / Insights / PAYE & payroll management / Tax planning & VAT “Off-payroll” working rules continue to apply – public sector bodies and large and medium-sized organisations need to determine worker’s employment status Read Article
24th May 2023 / Business insights / Tax planning & VAT HMRC late payment interest rates to be revised after Bank of England increases base rate Read Article
16th May 2023 / Insights / Tax planning & VAT Changes to the VAT online account – make sure you are compliant in order to avoid penalties Read Article
9th Jan 2023 / Insights / Tax planning & VAT More time to prepare for Making Tax Digital for Income Tax Self-Assessment Read Article
8th Dec 2022 / Insights / PAYE & payroll management / Tax planning & VAT “Off-payroll” working rules continue to apply – public sector bodies and large and medium-sized organisations need to determine worker’s employment status Read Article
