4 essential steps to MTD
IS YOUR BUSINESS READY FOR MAKING TAX DIGITAL
MTD for VAT is mandatory for VAT registered businesses with turnover above the VAT registration threshold of £85,000 for VAT periods commencing on or after 1 April 2019.
What do you need to do?
- Check that the software that you use to keep your accounting records and lodge VAT returns is compatible
- Register for MTD from within your Government Gateway account. But it is important not to do this until you are ready to lodge VAT returns using compatible software.
- Link your software to your MTD registration.
- Lodge VAT returns using compatible software for all periods commencing on or after 1 April 2019 onwards.
It is vital that you enrol for MTD at the right time. Enrolling before you are ready could cause major issues.
Speak to FourM’s digital experts for advice on what you need to do to be MTD compliant
If you would prefer that FourM arrange your MTD registration and compliance then please speak to us to obtain a quote.