What does Making Tax Digital for VAT mean for my business?

What does Making Tax Digital for VAT mean for my business?

To comply with MTD for VAT, you need to keep digital records for your first VAT period starting on or after 1st April 2022.

You must also submit the VAT return for that period, and all others going forward, through MTD-compliant software, such as Xero.

It’s important that you choose MTD software that’s HMRC recognised and allows you to submit a VAT return, supply HMRC with VAT data, and receive information from HMRC via an API.

These videos are intended as a general guide only. Please consider what is best for your business. If you require further information specific to your business needs, please speak to your professional advisor/s