Making Tax Digital For Vat

June 8, 2022 ⚊ 1 Min read ⚊ Views 128 ⚊ NEWS

HMRC has introduced MTD from beginning of April, to make easier and more effective for individual and businesses to declare and record their tax. For the VAT registered businesses whose taxable turnover is above the threshold limit have to keep certain digital records and must file their VAT returns directly from these digital systems.

Read details: https://bestukaccountants.wordpress.com/2022/06/06/what-you-need-to-do-if-your-business-not-mtd-compliant-yet/

Tags: VAT returns

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∎ − HMRC’s Making Tax Digital (MTD) is a digital initiative to simplify tax reporting for businesses. It requires eligible individuals and entities to keep digital records....

∎ − The use of Making Tax Digital Software will allow you to submit VAT returns directly to HMRC without needing to visit HMRC’s website. HMRC see....