Making Tax Digital for VAT
Date published
December 4, 2018
Company
Wolters Kluwer
It’s the end of the tax return as we know it. Get prepared for Making Tax Digital for VAT in April 2019.
With less than six months to go until Making Tax Digital (MTD) for VAT, the time to prepare is now. With the right software and a comprehensive communications plan in place, the transition to MTD for VAT could be plain sailing. In fact, for forward-thinking accountancy practices, Making Tax Digital is an opportunity to grow their communication plan with their clients and look to digital means of data collection.
In April 2019 the HMRC online interface, where 87% of accountants currently manually enter VAT submissions, will no longer be available for those over the VAT threshold of £85,000. Companies and individuals above the VAT threshold will be mandated to use compliant software to digitally submit accurate financial information to HMRC.
Is your practice ready?
Read the eBook to find out about:
- how MTD for VAT will impact you
- HMRC exemptions
- HMRC’s pilot scheme
- digital record-keeping
- spreadsheets and MTD for VAT
- engaging with your clients
- MTD for VAT fact vs. fiction and FAQs
It also contains:
- a helpful checklist to help you ensure nothing is overlooked as you explore what changes will need to be put in place
- a step-by-step process to support your transition from your existing processes to new MTD for VAT-compliant processes
