Making Tax Digital for VAT

From April 2019 all VAT registered businesses and organisations with taxable turnover above the VAT threshold of £85,000 will be required to:

• Maintain their accounting records digitally in a software product or spreadsheet. Maintaining paper records will cease to meet the legal requirements in tax legislation.
• Submit their VAT returns to HMRC using a functional compatible software product that can access HMRC’s API (Application Program Interfaces) platform.

Based on the above changes most VAT registered businesses will need to acquire and learn to use a suitable commercial software product or appoint an agent to submit returns to HMRC on their behalf.

Mitchells Grievson Chartered Accountants can help with these changes in legislation and can deal with this for you efficiently and effectively, saving you time and enabling you to concentrate on your business.

For further information regarding this service, please contact Phil Harnby ACA on 01388 605785 or email phil.harnby@mitchells-online.com.

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