Making Tax Digital for VAT and Accountz

October 11 2018, 0 Comments

As we are sure you've all heard.... Making Tax Digital for VAT is on it's way in early 2019!

Making Tax Digital for VAT requires all VAT registered businesses with a turnover of £85,000 or above (VAT threshold) to keep their business VAT records digitally and submit their VAT returns using MTD compatible software. We believe that businesses will no longer be able to log into the HMRC website and manually submit their returns after the launch of MTD for VAT.

HMRC MTD for VAT

As of 1st April 2019 this is not optional to those affected, it's mandatory. However, payment dates and deadlines for your VAT are not going to change with the transition.

Our dedicated team of developers are quietly working away making sure that this new method of submitting your VAT returns will be released into our current supported versions in time for its release.

To make the changeover to MTD for VAT as seamless as possible for our users, we will be releasing an update to the Startup Kit+VAT and Business Suite which will enable the new API's for HMRC in plenty of time for the first submission next year. So, please make sure that you install any updates when prompted or go to Help > Check for update regularly.

If you are still using one of our older products, please feel free to take a look at our subscription range of Business Accountz which will take care of the VAT changes for you, giving you peace of mind that you will be fully compliant for as little as £10+VAT per month https://www.accountz.com/collections/compare

If you have any queries regarding how the changes will affect you, please do not hesitate to contact support@accountz.com