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Article

Updated Timeline for Making Tax Digital

Article

Updated Timeline for Making Tax Digital

15 Nov 2018

1 minute read

HMRC have released a new statement regarding the implementation of Making Tax Digital.

Updated Timeline for Making Tax Digital - news article image

HMRC have released a new statement regarding the implementation of Making Tax Digital.

The pilot service to trial the system went live in October meaning around half a million businesses with straight forward and up to date VAT affairs are now able to use it. VAT registered businesses with a taxable turnover above the VAT threshold are required to use the Making Tax Digital service to keep records digitally and use software to submit their VAT returns from 1 April 2019.

However the recent statement released exceptions where implementation is deferred until October 2019 for customers who fall into one of the following categories: trusts, ‘not for profit’ organisations that are not set up as a company, VAT divisions, VAT groups, those public sector entities required to provide additional information on their VAT return (Government departments, NHS Trusts), local authorities, public corporations, traders based overseas, those required to make payments on account and annual accounting scheme users.

See more on Making Tax Digital here. 

If you have any questions on Making Tax Digital, quarterly returns or the future of the tax return then do get in touch via email or call 01865 292 200.

Author:

Christy Kennedy

Need expert advice?

Speak to an expert for advice on
+44-1865 292200 or get in touch online to find out how Shaw Gibbs can help you

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If you have any questions on Making Tax Digital, quarterly returns or the future of the tax return then do get in touch via email or call 01865 292 200.

Author:

Christy Kennedy

Need expert advice?

Speak to an expert for advice on
+44-1865 292200 or get in touch online to find out how Shaw Gibbs can help you

Email
info@shawgibbs.com

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