VAT (Phase 2)
Who’s affected? The remaining VAT registered businesses – those voluntarily VAT registered with VAT-able turnover under £85,000.
- 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