News
Registering for Making Tax Digital for VAT takes seven days, warns HM Revenue & Customs
16 May 2019
HM Revenue & Customs (HMRC) has warned businesses across the UK that the registration process for Making Tax Digital (MTD) for VAT takes seven working days.
This means that VAT-registered businesses turning over £85,000 or more need to register more than seven days before submitting a return if they want to pay their tax bill by direct debit.
Last month saw the introduction of the requirement for such businesses to keep digital records and make quarterly digital VAT returns using HMRC-compatible software packages. In practice, this means that they need to use cloud accounting packages.
The quarterly nature of MTD for VAT returns means that the first quarterly submissions will not actually become due for most until at least July 2019.
Registering involves setting up a Government Gateway user ID and ensuring compatible software is in place.
Link: Making Tax Digital for VAT registration takes seven working days
Case Studies
-
Customer care is top of the list for packaging business
-
A modern approach required for music moguls
-
A shared passion for architecture and a head for numbers
-
A taste for growth, a thirst for knowledge
-
Child's play with proactive accounts management
-
Sometimes a business does exactly as it says on the tin
-
Smiles all round for dental practice
-
Taxing demands with old school charm
-
Cut above the rest in personal management style