According to the latest figures from HMRC over 325,000 customers have now registered for Making Tax Digital for VAT and over 180,000 VAT submissions have been made using MTD-compatible software This represents more than a third of the businesses that are required to comply with the new regulations.
Making Tax Digital for VAT went live on 1 April 2019 for the majority of businesses with turnover above the VAT threshold (£85,000). We have now passed the first submission deadline of 7 June 2019 for the first monthly submission and are also approaching the first quarterly filing deadline of 7 August 2019.
HMRC is reminding all businesses affected by the new rules to ensure they have registered and are ready to submit their returns on time.
21/06/2019
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