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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.
FEATURING: Becky Hayes
Becky advises family business, companies and individuals on a broad range of VAT and SDLT matters. Becky’s particular specialisms include land and property, company reconstructions… read more
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