The moment has come: if your business has a taxable turnover above the VAT-registration threshold, which is currently £85,000, you’re now obliged to keep records in digital form and file your VAT returns using HMRC-approved software.
If you prepare and submit your own VAT returns, there are a few things you need to do straight away. First, make sure you have MTD-compatible software and second, register for MTD via the Government Gateway.
If we already handle your accounts, then we can manage the whole process for you. Many of our clients have already joined the pilot scheme and are ready in advance. Read our article to see more details on the MTD process.
If you would like advice on ensuring compliance with MTD, or help with your VAT returns, get in touch with us.