MTD (Making Tax Digital) VAT Returns are compulsory for returns with a filing date of 7 August. If you haven’t registered you may find your VAT Return is blocked when you try to file it.
If this happens to you, don’t panic. You can contact us (01509 816150 or via our contact form) and we will do our best to help. HMRC say they are taking a sensible approach and will not impose penalties providing there has been a genuine attempt to comply.
If you don’t pay your VAT by direct debit, we suggest you ensure your VAT is paid by the deadline. At least HMRC cannot then complain they haven’t been paid. You can then concentrate on getting your MTD registration sorted.
If you normally pay your VAT by direct debit, it probably isn’t a good idea to make a payment otherwise the payment might be taken twice.
If you are due a refund, unfortunately you will have to wait until you can get a VAT Return filed.
Depending on what information and log ins you have, MTD registration can take as little as 72 hours. It is important that you get the process moving as quickly as you possibly can. Contact us now.
If you don’t have compatible software, we can help with this too. We can provide access to a range of different software (Quickbooks, Xero, Sage, Pandle, FreeAgent etc). We also have a “bridging” facility which can be used to take information from spreadsheets or non compliant software and convert it into a format suitable for MTD.
Time is running out, so don’t hang about. Get in touch today.
