VAT (Phase 1)
Who’s affected? VAT registered businesses with turnover above the VAT threshold (currently £85,000 excluding VAT).
- MTD-compliant software or apps will have to be used to keep a digital record of VAT transactions.
- MTD-compliant software or apps will have to be used to submit VAT returns.
- Submitting VAT returns using HMRC’s own VAT online services (currently accessed by logging on to HMRC’s site) will no longer be possible.