From April 2019 most VAT registered businesses were required to submit their VAT returns through the government’s Making Tax Digital for Business system and has been reasonably successful. This is part of HMRC’s generalised movement towards becoming a more digitally advanced tax administrator.
All other traders were to come under MTD in April 2020 but this was postponed until April 2021. Don’t delay why not start using software so that you are in advance of the requirements.
For more information about how Making Tax Digital might affect your business, please call us today.