On Wednesday 27 March we’ll be working with the Staffordshire Chamber of Commerce to deliver a series of mornings helping businesses in the local to understand Making Tax Digital and how to make the move.
VAT has been online since 2010 and over 98% of VAT registered businesses already file electronic returns. Businesses to which MTD for VAT applies will no longer be able to submit VAT returns using the HMRC portal.
In spite of lobbying from the British Chambers of Commerce and others, the Government has said that the plans for small businesses with a turnover above the £85,000 VAT threshold to be required to submit quarterly returns online will go ahead from April 1st. The Chancellor reaffirmed the plans for Making Tax Digital (MTD) during his Spring Statement but did promise that firms they would not face fines if they do their best to adapt – although this will not be indefinite.
Don’t worry if you haven’t made the move just yet, there’s still time. We’ll be talking you through your options and how easy it is to move to the cloud. If you’d like to come along please register here