VAT: MTD mandatory from March 2022

Hillier Hopkins LLP

Chartered Accountants & Tax Advisers

Call +44(0)330 024 3200 and discover how we can help you.

Under Making Tax Digital (MTD), businesses must keep digital records and use third-party software to submit tax returns to HMRC. Businesses with taxable income over the VAT registration threshold, currently £85,000, should be reporting their returns under this method.

From March 2022 all VAT registered business must report their returns digitally. This will require many businesses to purchase accounting software or bridging software. The software must be capable of receiving information from HMRC digitally via HMRC’s Application Programming Interface (API) platform. HMRC have published a list of approved software suppliers.

We do offer a bridging software solution, please get in touch if you would like more information.

VAT can be a complex area. Everyone’s situation is different and getting advice that is tailored to your unique situation can ensure that your affairs are as efficient as possible. We offer a free initial consultation, so if you would like to speak to Natasha Heron, please get in touch with her on +44(0)330 024 3200 or email hi@hhllp.co.uk.

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Natasha Heron

Natasha is a member of the ICAEW as a qualified auditor and the Chartered Institute of Taxation, specialising in indirect taxes. Natasha has developed a specialism as an adviser on the Stamp Duty Land Tax implications of property transactions.

Contact Natasha at Natasha.Heron@hhllp.co.uk or on 01923 634460