Making Tax Digital (MTD) for VAT

Jon Davies Accountants > Accounting > Making Tax Digital (MTD) for VAT

15th Jul

Billie Arnold

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VAT registered or not, it is useful to know what the new legislations are going to be regarding MTD for VAT.

For VAT registered businesses with a turnover above the VAT threshold of £85,000, it will be compulsory. You will need to comply with the digital record keeping and reporting requirements.

If you are VAT registered but you are below the threshold, you will get a choice whether you want to join MTD for VAT or not.

This month’s Active Practice will guide you through:

· VAT return quarters

· Exemptions

– The religious societies

– Not Practical

– Insolvency

· Digital Records

– Designatory Data

– Supplies made

– Supplies received

· The VAT account

· What is ‘functional compatible software’?

· Completing and submitting VAT Returns

· Getting ready

If you would like to know anything more then please get in touch but, first of all, take a read of our latest Active Practice to find out more. You can download it here:

JDA – Active Practice – 2018-07 – MTD for VAT businesses

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Tags: Business Advice, Making Tax Digital, MTD, VAT

Categories: Accounting, Finance, Making Tax Digital, Taxes