Making Tax Digital Deadline: 1st of April
Posted on in Business News , Cycles News
With less than a month until Making Tax Digital (MTD) comes into effect, make sure that you are aware of your business's responsibilities.
From the 1st of April 2019, businesses above the VAT registration threshold (£85,000) will be required to keep digital VAT business records, sending returns using MTD compatible software.
A study surveying over 1,200 retailers found that only one in four (26%) retailers were aware of their responsibilities under the new law, 6% of which have the appropriate software to comply with the changes.
If you are unsure of your responsibilities, please use the Association of Convenience Stores (ACS) guidance.
Click here for the MTD guidance.
The government is holding a series of webinars to help businesses get ready for MTD over the next few weeks. To register for a webinar, click here.