Making Tax Digital for VAT expands to all VAT Registered Businesses

From 1^st April 2022, Making Tax Digital for VAT will apply to all VAT-registered businesses, including those voluntarily registered for VAT.

Up to now, Making Tax Digital for VAT was only a legal requirement for VAT-registered businesses over the £85,000 registration threshold.

From 1st April 2022, all VAT registered businesses, regardless of turnover, will be required to use software to keep VAT records, to create VAT returns, and to send the VAT returns to HMRC.

You will no longer be able to submit VAT returns via the HMRC website.

You will need to use software for your VAT accounting but your accountant can still submit VAT returns on your behalf. You should also note that you will need to keep your VAT accounting records for at least six years.

If you are registered for VAT, even if you are below the registration threshold (£85,000) and you are not sure whether you comply with the Making Tax Digital for VAT requirements then please contact our VAT experts at The Uncommon Accountants without delay and we will be able to assist you.