Despite the delays in implementation, Making Tax Digital (MTD) is still on course to take effect on 1 April 2019. Under the scheme, VAT-registered businesses are required to maintain digital records, complete the VAT return from the digital records and send it electronically to HMRC.
Click this link to read a full report answering questions you may have. Our report covers the following headings:
- Which Businesses are affected?
- Digital Records
- The VAT Account
- What is ‘Functional Compatible Software’?
- Completing and Submitting VAT Returns
- Getting Ready.
For more information on the above headings, go to our full report. If you would like to discuss MTD further, please do get in touch with Amanda Williams FCA or Thomas Pottinger FCA at Porter Garland on 01276 674870.