Making Tax Digital – Is your small business prepared for the changes to VAT?

Almost all UK VAT registered businesses need to comply with new, digital record-keeping requirements under HMRC’s “Making Tax Digital” (MTD) programme.  Is your small business ready?

At Atkinson Accounts, we have the software up and running; ready for our existing clients. So if you currently use our services for the preparation and submission of VAT returns then the change-over will be undertaken by us and should be fairly seamless for your business.

If you are currently preparing your own VAT returns and would like to see how Atkinson Accounts could help you with this change; or take up our MTD VAT submission only service; or even if we can offer some helpful tips or advice, please do not hesitate to contact us.


What is Making Tax Digital?

The “Making tax digital” programme is designed to streamline reporting processes for businesses.  The end plan is to replace the traditional paper trail with a digital one, directly linked to HMRC.


When does Making Tax Digital begin?

Making Tax Digital for VAT starts on 1st April 2019. In essence, any VAT returns with quarters starting on or after 1st April 2019 should be prepared and filed under Making Tax Digital.

To double check when Making Tax Digital should be implemented in your business, please check your VAT quarters against the below:

Normal quarter end: Mar, Jun, Sep, Dec             – First MTD Quarter: 1st April 2019 – 30th June 2019             – Filed by 7th August 2019

Normal quarter end: Jan, Apr, Jul, Oct                 – First MTD Quarter: 1st May 2019 – 31st July 2019             – Filed by 7th September 2019

Normal quarter end: Feb, May, Aug, Nov            – First MTD Quarter: 1st June 2019 – 31st August 2019             – Filed by 7th October 2019