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24 Oct 2022

New research has indicated that UK shoppers could spend £4.4bn less on essentials ahead of Christmas – a 22% drop as the rising cost of living impacts on disposable income.

13 Oct 2022

National media has reported that most Britons say that the cost-of-living crisis is forcing them to shun local shops in favour of big brands to get the cheapest prices.

4 Oct 2022

Paper £20 and £50 notes are no longer legal tender.

15 Sep 2022

BIES Retail has created a visual toolkit for all organisations, and the public sector during this time of mourning to show the country speaking with one voice of unity.

2 Sep 2022

ActSmart, ACT, Booksellers Association, Craft Bakers Association, British Sandwich & Food to Go Association and the Café Life Association from the Independent Retailers’...

30 Aug 2022

Nearly 14% of small UK businesses expect to close in the next twelve months, according to a new report published by the Federation of Small Businesses.

23 Jun 2022

With this summer and for Independents Day, especially after the last few years, it is crucial that businesses can make the most of the increased footfall of physical shoppers.

23 May 2022

The Greeting Card Association (GCA) have created a Father's Day 2022 toolkit, with the aim of helping retailers promote this event in their stores and online.

6 Apr 2022

Businesses are required to have signed up to Making Tax Digital ready for their first VAT return starting on or after 1 April 2022. However, they may not be required to make their first...

24 Mar 2022

This briefing outlines the most relevant announcements for the cycling sector gathered by the ACT through our involvement in the

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Making Tax Digital: Changes from 1st April 2022

Posted on in Cycles News , Creative News

Businesses are required to have signed up to Making Tax Digital ready for their first VAT return starting on or after 1 April 2022. However, they may not be required to make their first submission via Making Tax Digital until Summer 2022. All VAT returns must be made via compatible accounting software.

The Government have published new guidance from 1st April 2022 for businesses to understand when to start using Making Tax Digital for VAT if they haven't before.

View the Government guidance here

From 1st April 2022 all VAT registered businesses must sign up for Making Tax Digital, no matter how much they earn unless you apply for an exemption.

 

What do I need to register?

To register for Making Tax Digital you need:

  • your business email address
  • a Government Gateway user ID and password - if you do not have a user ID, you can create one when you use the service
  • your VAT registration number and latest VAT return

You’ll also need:

  • your National Insurance number if you’re a sole trader
  • your company registration number and Unique Taxpayer Reference if you’re a limited company or registered society
  • your Unique Taxpayer Reference and the postcode where you’re registered for Self Assessment if you’re a general partnership
  • your Unique Taxpayer Reference, the postcode where you’re registered for Self Assessment and your company’s registration number if you’re a limited partnership

Where can I get more help and guidance on Making Tax Digital?

For more information, HMRC is running live webinars – during which you can ask questions using the on-screen text box.

These webinars provide an overview of MTD, including digital record keeping, compatible software, how to sign up and submit VAT returns directly from the business. 

Register here

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