From 1 April 2019 it grew to become obligatory for many companies above the VAT threshold to maintain their information digitally and submit their VAT return utilizing Making Tax Digital – appropriate software program. This requirement applies to round 1.2 million companies. Companies want to make use of the service for his or her first VAT return interval beginning on or after 1 April. For almost all, who file quarterly, their first VAT return by Making Tax Digital won’t be due till August on the earliest, so there’s nonetheless time to organize.
Earlier than 1 April we had already had the chance to be taught from companies about how Making Tax Digital works for them, by a pilot service which provided an early probability to be a part of Making Tax Digital. Certainly by 31 March 2019 over 90,000 companies had registered for Making Tax Digital, volunteering to take part within the Making Tax Digital for VAT pilot.
The suggestions we obtained from companies within the pilot was very encouraging and a variety of brokers advised us about their constructive Making Tax Digital experiences. One such agent was featured on YouTube. In case you have not but seen the video I might advocate you accomplish that, as I’m positive it is possible for you to to narrate your private Making Tax Digital expertise to a lot of what’s mentioned.
We recognise that brokers make a major contribution to the success of Making Tax Digital and we all know that lots of our clients have already sought (and been grateful for) the recommendation/help of an Agent, in each submitting digitally and sustaining digital information.
We’re eager to supply brokers with the entire instruments we will to help them with Making Tax Digital, and along with the web steering already accessible we are going to shortly maintain extra of our well-liked Making Tax Digital Agent webinars.
These webinars shall be held on:
Agent engagement stays key to Making Tax Digital and we proceed to liaise with the agent skilled our bodies to know their views through common discussions with the Heads of the Tax Professions. We additionally proceed to maintain brokers up to date on Making Tax Digital through our common agent updates.
Now that Making Tax Digital for VAT is obligatory the demand for recommendation and help from companies is certain to extend. We’ll subsequently proceed to supply the agent neighborhood with the entire help we will in an effort to serve our mutual clients and make sure the success of Making Tax Digital for VAT.