Making Tax Digital for VAT is releasedApril 02 2019, 0 Comments
We are recognised by HMRC to offer Making Tax Digital (MTD) for VAT submissions via our Business Accountz subscriptions.
As you know we've been very busy at Accountz lately. MTD for VAT has now been implemented into the Business Accountz subscription range and an update is ready for you. In Business Accountz, please go to Help > Check for Update, download and install this important update to your system.
Am I affected by MTD for VAT?
To check if you are affected and how to get ready for the change, please see this link:
How do I sign up?
If you are required to submit via MTD, you will need to log into their portal here and sign up for the new scheme.
When do I need sign up?
The first VAT return that STARTS after 1st April 2019 will need to be MTD. If your VAT period straddles this date, it will be the following VAT quarter. If you are unsure, please contact HMRC.
What happens in Business Accountz?
Entering your transactions is no different to before. After signing up with HMRC and updating Business Accountz, you will then be required to submit your VAT returns via the new component in Business Accountz: MTD for VAT. The old VAT Returns component will remain as your historical VAT filing and all new VAT filing will be done via the MTD for VAT section.
If you do not however have to submit MTD returns the old VAT module will continue to work as before.
The Accountz Team