HMRC announces a six month MTDfV deferral for certain entities’

HMRC announced yesterday that MTDfV has been deferred for six months for certain entities, including;

• Trusts
• Not-for-profit organisations that are not set up as a company
• VAT groups and divisions
• Traders based overseas
• Businesses that are required to make payments on account
• Annual accounting scheme users
• Certain public sector organisations
• Public corporations

This means that HMRC’s expected timeline is now –

• From 1 April 2019 – MTDfV mandated for all entities with taxable turnover above the VAT threshold, except those above that have been deferred
• From 1 October 2019 – MTDfV mandated for entities that have been deferred.