Making Tax Digital – Update
As the HMRC initiative “Making Tax Digital” is now only six months away for VAT registered businesses, we felt it was time to bring it to your attention once again, having already written to many clients earlier in the year.
It is important for VAT registered businesses to remember that once Making Tax Digital is live in April 2019, they are intending to close their website portal for filing VAT returns. From that point onwards, businesses will be forced to use bookkeeping software to make their VAT return submissions.
We recommend that VAT registered business owners either read the HMRC VAT Notice 700/22: Making Tax Digital for VAT, or contact us to discuss their next move.