Lentells Limited

CHARD 01460 64441 | SEATON 01297 20584 | TAUNTON 01823 286274 | PAYROLL 01460 68700
chard@lentells.co.uk | seaton@lentells.co.uk | taunton@lentells.co.uk | payroll@lentells.co.uk

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Thursday, 06 October 2022 13:32

Less than 1 month for VAT registered businesses to be ready for MTD

Making Tax Digital Making Tax Digital

HMRC is reminding businesses that from Tuesday 1 November 2022 they will no longer be able to use their existing VAT online account to submit their returns and will instead have to file under Making Tax Digital (MTD). 

All VAT-registered businesses must now sign up to MTD and use compatible software to keep their VAT records and file their returns, unless they are exempt from MTD. Even if a business currently keeps digital records, they should check their software is MTD compatible and sign up to MTD before filing their next return. 

If a business hasn't already signed up to MTD or started using compatible software, they must: 

  • Chose MTD compatible software from the list on Gov.uk
  • Check the permissions in the software and allow it to work with MTD to file returns
  • Keep digital records for current and future VAT returns 
  • Sign up for MTD and file future VAT returns using the software 

If a business is already exempt from filing VAT returns online or if their business is subject to an insolvency procedure, they will automatically be exempt. Business owners can apply for an exemption due to age, disability, location, religious grounds or any other reason why it's not reasonable or practical. 

If a new business registers for VAT, they will automatically be signed up to MTD while registering through HMRC's new VAT registration service (VRS). 

As QuickBooks Platinum ProAdvisors we are able to provide help and support on the best package for your business and provide on-going training and support with using cloud accounting software. 

For more information please get in touch; 

Chard - 01460 64441, This email address is being protected from spambots. You need JavaScript enabled to view it.

Seaton - 01297 20584, This email address is being protected from spambots. You need JavaScript enabled to view it. 

Taunton - 01823 286274, This email address is being protected from spambots. You need JavaScript enabled to view it. 

Last modified on Thursday, 06 October 2022 14:52

        

 
 

Chard Office

17-18 Leach Road 
Chard Business Park 
Chard
Somerset 
TA20 1FA

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01460 64441

Seaton Office

Kingsway
50 Fore Street
Seaton
Devon
EX12 2AD

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01297 20584

Taunton Office

Ash House, Cook Way
Bindon Road
Taunton
Somerset
TA2 6BJ

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01823 286274