MTD & VAT

If your turnover is in excess of £85,000 you should already be submitting your VAT return through MTD. This became law from 1^st April 2019. Are you aware that if you are VAT registered and your threshold is below £85,000 you can voluntarily register for MTD by the end of your first VAT quarter of the next financial year? This is really a good idea if you think your turnover in the next financial year will go above the threshold. We can put your accounts onto a compatible system and help you register for MTD

Registering for VAT

We are happy to help you register for VAT, create your Government Gateway I.D and link your software. All software than can be used for MTD are given in this link https://www.tax.service.gov.uk/making-tax-digital-software?_ga=2.124728202.1296843739.1575571576-799078982.1572965526. If your software is not included, you will need to change and we can help you do that.

MTD Submission Errors

When you first submit a VAT return you may get submission errors for several reasons. We can help you get this sorted out. It is usually something simple but is couched in ‘government’ speak. Let me give you an example –

The VRN specified [VRN] was not found – in laymen’s terms you have not activated your account!

VAT return

Before you submit your return, and especially if you are new to VAT, let us check your submission before you send it. You may be paying VAT you do not need to, or claiming back at the incorrect rate

Talk to us about any aspect of VAT that concerns you, we are here to help