MTD for VAT

It will soon be compulsory for businesses to submit their VAT returns digitally as Making Tax Digital become mandatory for all VAT registered businesses with turnover of £85,000 from the first period commencing on or after 1st April 2019. Check to see when your first return must be submitted under the new rules:

VAT QTR ENDS            CHECK TURNOVER FOR         FIRST MTD VAT RETURN DUE

   

Mar/Jun/Sep/Dec       Year ended 31 March 2019   Qtr to 30 June 2019

   

Apr/Jul/Oct/Jan           Year ended 30 April 2019      Qtr to 31 July 2019

   

May/Aug/Nov/Feb     Year ended 31 May 2019      Qtr to 31 August 2019

It may be informative for you to follow the HMRC link regarding this issue: 

https://www.gov.uk/guidance/help-and-support-for-making-tax-digital

https://www.gov.uk/government/publications/making-tax-digital-how-vat-businesses-and-other-vat-entities-can-get-ready/making-tax-digital-how-vat-businesses-and-other-vat-entities-can-get-ready

How to sign up to Making Tax Digital for VAT

This YouTube video explains the step-by-step process to sign up a business to Making Tax Digital for VAT. Over 1 million VAT registered businesses will need to sign up for Making Tax Digital:

https://youtu.be/kOKD4kHvlzI

If you already have a Government Gateway login, you will need to use this in order to sign up for MTD for VAT.

If you are already using a Sage application for your accounts & VAT returns, Sage urges that you ensure your application is version 24 or above. You may need to upgrade. Please check your version under Help and About in your Sage Accounts package.

If you are using Sage Business Cloud [formerly Sage One] then your accounts & VAT returns will be MTD compliant.

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