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Making Tax Digital update

Newsletter issue - April 2019.

VAT-registered businesses with a taxable turnover above the VAT threshold are required to use the Making Tax Digital (MTD) service to keep records digitally and use software to submit their VAT returns from 1 April 2019.

The exception to this is a small minority of VAT-registered businesses with more complex requirements. As part of planning for the VAT pilot, HMRC consulted with various stakeholders and took the decision to delay mandation for these customers until 1 October 2019 to ensure there is sufficient time to test the service with them in the pilot before they are mandated to join.

The revised timetable for implementing MTD for VAT is now as follows:

April 2019 - MTD mandated for all customers (except those that have been deferred)

October 2019 - MTD mandated for customers that have been deferred. The 6-month deferral applies to customers who fall into one of the following categories:

Updated guidance

HMRC have published an updated version of their Making Tax Digital Mythbusters factsheet. The 'myths', and HMRC's comments covered in the factsheet are summarised as follows:

For further information on MTD, see the GOV.uk website here.