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Making tax digital for VAT

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HMRC has issued a reminder for VAT-registered businesses to take steps to prepare for making tax digital for VAT before it becomes mandatory for all VAT-registered businesses regardless of turnover, from 1 April 2022.

Businesses with taxable turnover above £85,000 have already been required to follow making tax digital since April 2019.

Agents can sign up on behalf of a business, although businesses remain responsible for meeting their VAT obligations. Those who do not join may be charged a penalty for failure to do so.

Issue: 1559
Categories: News