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​Making Tax Digital in UK, some postponements in timeline

VAT-registered businesses with a taxable turnover above the VAT threshold are required to use the Making Tax Digital (MTD) service to keep records digitally and use software to submit the VAT returns as from April 1, 2019. It will no longer be allowed to manually key in the to be reported VAT figures. Instead, this has to be done automatically without human intervention.

The testing for MTD is now open for public. However, only for a limited scope of businesses, i.e. sole traders and companies (except those which are part of a VAT group or VAT Division) provided that they are up to date with their VAT.

Companies that trade with the EU, are based overseas, submit annually, make payments on account, use the VAT Flat Rate Scheme, and those newly registered for VAT that have not previously submitted a VAT return, are unable to join the test at this point. Those customers with a default surcharge within the last 24 months will be able to join the pilot by the end of October 2018.

As part of planning for the VAT pilot, HM Revenue & Customs (HMRC) continued to engage with stakeholders and listen to their concerns about business readiness for Making Tax Digital. Therefore, HMRC has made the decision to delay mandatory MTD for some specific customers until October 1, 2019 to ensure that there is sufficient time to test the service with them in the pilot before they are mandated to join. Click here for the detailed timeline (HMRC, 2018). The customers in question are VAT groups, VAT divisions, foreign established businesses with a GB VAT registration number and some other cases like unincorporated charities.

More information

Our team of experts is able to submit the VAT Returns digitally as required by Making Tax Digital. For more information about this topic, do not hesitate to contact us by phone +31(0)88-4321800 or e-mail info@pincvision.com

Source: HMRC

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