Making Tax Digital for VAT

 In relation to VAT, from 1st April 2019 and VAT periods starting thereafter, VAT registered businesses will need to file their VAT returns under MTD.  This is causing many small and medium sized businesses a headache since for some time they have relied on being able to keep VAT records how they like and submit their return via the HMRC website.  Both of these freedoms are now lost for the majority of businesses. 

Many businesses use a range of systems to record their VAT transactions, not all of which integrate with each other and also with HMRC.  Often an element of manual adjustment and manipulation has been required, more often than not using a spreadsheet package. 

We understand that this is a challenging time for businesses, with many not fully prepared or in a position to understand the requirements. 

We know the importance to all businesses of ‘keeping the VAT office happy’ and ensuring their returns remain correct and compliant. 

Our services for MTD therefore include:

• Reviewing current systems and processes and providing an analysis and report of changes needed.
• Assisting with the implementation of changes necessary under MTD.
• Working with international finance teams to ensure systems work together.
• Liaising with HMRC in cases where an exemption or ‘special method’ may be necessary.

For more information regarding how we can ensure your business successfully manages the transition to MTD VAT reporting, please contact us.