This article was originally published in the Western Morning News on Wednesday 23 March 2022. I am having many conversations recently about the rising cost of…
HMRC sends Making Tax Digital for VAT “letters of encouragement” to 200,000 businesses
Making Tax Digital for VAT (MTDfV) is set to change the way businesses submit their VAT returns commencing on or after 1 April 2019. In mid-October the MTDfV pilot was opened up to 600,000 eligible businesses. Rather than the inevitable influx of businesses signing up at the last minute, HMRC are encouraging those eligible to sign up early to ensure they are ready and take advantage of going digital.
Darren Jasper, Head of Cloud Accounting at PKF Francis Clark says:
“This is a positive step from HMRC. We have been planning for MTDfV and communicating to clients on it for the past 18 months or so, but have been held back by delays with the pilot and HMRC’s reluctance to communicate to business. Now both aspects appear to be resolved we look forward to assisting an even greater number of businesses towards compliance.”