HMRC has extended its making tax digital (MTD) for VAT pilot to around half-a-million businesses whose affairs are ‘up to date and straightforward’. The pilot has been running for a group of invited businesses since April.
HMRC has also announced it will delay introduction of mandatory MTD by six months, until 1 October 2019, for a small group of businesses with more complex requirements. This will include: trusts, unincorporated ‘not for profit’ organisations; VAT divisions and groups; government departments and NHS trusts; local authorities; public corporations; traders based overseas; those required to make payments on account; and annual accounting scheme users.
Digital record-keeping and reporting for VAT will become mandatory for other VAT-registered businesses from 1 April 2019.
HMRC has extended its making tax digital (MTD) for VAT pilot to around half-a-million businesses whose affairs are ‘up to date and straightforward’. The pilot has been running for a group of invited businesses since April.
HMRC has also announced it will delay introduction of mandatory MTD by six months, until 1 October 2019, for a small group of businesses with more complex requirements. This will include: trusts, unincorporated ‘not for profit’ organisations; VAT divisions and groups; government departments and NHS trusts; local authorities; public corporations; traders based overseas; those required to make payments on account; and annual accounting scheme users.
Digital record-keeping and reporting for VAT will become mandatory for other VAT-registered businesses from 1 April 2019.
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