HMRC - making VAT digital

Deadline only April 2019 but counting down

The UK200 Tax Panel (the UK 200 group is a membership organisation comprising mostly lawyers and accountants) has regular meetings with HMRC to discuss forthcoming measures and how new regulations and legislation is intended to be launched or released onto a digital platform.

HMRC’s position is that from April 2019 – specifically all reporting periods ending in or after April 2019 – Making Tax Digital (MTD) will require all VAT registered businesses to report their VAT returns digitally to HMRC through a compatible software program.

The government’s own overview can be found here:
https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital

It is anticipated that all VAT registered businesses will use approved and HMRC compatible software to submit – or use agents who themselves subscribe and use the most common and leading brands in this field (examples such as Xero, Sage Cloud and Avalara you may already be familiar with).

Those firms registering as software developers with intent to create and generate their own digital returns will be the very small minority.

Please contact us should any aspect of what is required of you and your business be unclear.