Important new HMRC rules for VAT registered business - both Limited Company and Sole Trader.
HMRC has made it compulsory for all businesses registered for VAT (+ over the 85k threshold) to use MTD complaint software and submit their VAT returns to HMRC electronically with a full breakdown that can be checked by them remotely.
The first MTD compliant VAT Return for the 3 month period ending June 30th is due to HMRC by the 7th August 2019.
HMRC expect a huge rush as many people leave it to the last minute and then realise they are not compliant to avoid penalties and interest charges for missed deadlines and unpaid VAT, as the process requires pre-registration and this causes further delays before a submission is possible.
So this has caused a lot of business owners problems and extra work and we are pleased to announce we are here to help and make things easier.
As we are at the forefront of such changes and already have MTD complaint software and have access to HMRC for the benefit of all our clients . So if your having problems with MTD VAT - Making Tax Digital, then get in touch today and we will be happy to help.
By Anni Khan at Tax Affinity Accountants
Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Kingston upon Thames and Espom they are considered in the Industry to be expert accountants and tax advisors for small businesses. Helping and supporting contractors and self employed people throughout the UK, they regularly help clients grow their business providing tailored advice.
For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.
Our experienced accountants and tax advisers provide valuable insights into practical every day questions and issues.
Add blog to our blog directory.
Ask your own question: If you would like to have a tax related question answered here, please send your question to firstname.lastname@example.org.