If you run a VAT-registered business with a taxable turnover above the VAT registration threshold you are required to keep digital VAT business records and send returns using Making Tax Digital (MTD) -compatible software. The vast majority of businesses will need to do this for VAT periods starting on or after 1 April 2019
However for a small minority of businesses that have more complex requirements, HMRC have made the decision to defer mandation by 6 months to ensure there is sufficient time for testing the service with them in the pilot before they are mandated to join. These businesses have until 1 October 2019 to start keeping records digitally and using MTD-compatible software to send their VAT returns to HMRC.
It’s important that you have the appropriate software package to deal with all these new requirements make yourself compliant with new HMRC requirements, we at Amin & Co Accountants made all the spadework and arrangements to cope with these new requirements so that our clients concentrate more on their core business instead of these complex taxation handling issues.