Making Tax Digital for VAT - More change! - April 2019
"It's life Jim but not as we know it", said Dr McCoy to Captain Kirk in Star Trek. Well, VAT registered businesses are about to experience Life as they've not previously known. On 13 July 2018, HMRC quietly published VAT Notice 700/22, which may become the most famous VAT Notice of all time. In essence, from 1 April 2019, the HMRC VAT portal through which currently all traders enter their VAT liability will close and cease to exist. Businesses will be required to have "approved software" that will take their "source" records and via a "Digital Link" create and submit quarterly VAT Returns.
You need to understand, consider and resolve a solution before April 2019. If you are a VAT business and have not heard of this, or if you need to discuss, please contact us for a free initial consultation.