April 2019

Published on Friday November 30, 2018

VAT (Phase 1) Who’s affected? VAT registered businesses with turnover above the VAT threshold (currently £85,000 excluding VAT). How? 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 …

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VAT (Phase 1)

Who’s affected? VAT registered businesses with turnover above the VAT threshold (currently £85,000 excluding VAT).

How?

  • 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.