Making Tax Digital
11th July 2019 by Liz Wells, talkingretail.com
Companies urged to register for Making Tax Digital before August
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HM Revenue and Customs (HMRC) is urging businesses with an annual turnover above £85,000 to sign up to Making Tax Digital (MTD) before the August VAT filing date.
Many of the 1.2 million businesses affected by the MTD rules, which became law for VAT periods starting on or after 1 April, will be required to submit their first quarterly VAT return to HMRC using software by the 7 August. If paying by direct debit, these businesses must register by 27 July.
HMRC’s reminder comes as it reveals more than 600,000 businesses have signed up in total, with 400,000 submissions made using software, and around 10,000 businesses are registering for MTD every day.
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