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Making Tax Digital

Accountant, Accountancy, Finances

 

Many VAT registered businesses with a taxable turnover above the VAT threshold are now required to use the Making Tax Digital service to keep records digitally and use software to submit their VAT Returns.

To start the process you will need:

  • Compatible software to submit your VAT Return
  • Information about the business you’re signing up
  • A Government Gateway user ID and password

You will need to submit your VAT Return using compatible software but you can still use your VAT online account to view deadlines and manage payments.

Read GOV.UK guidance to find out when you need to start following the rules.

https://www.gov.uk/guidance/making-tax-digital-for-vat

Contact CWR Accountants on 01524 67371 if you require further information and find out how we can help you with the process.

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