Whilst Making Tax Digital (MTD) has been the law since the 1st of April 2019, no filing or record keeping penalties have been handed out to businesses that are doing their best to comply. This is because the government recognises that businesses need time to become familiar with the new requirements. The ‘soft landing period’ is coming to an end on the 1st of April 2020 Which means that those businesses above the VAT threshold will need to keep their records digitally and submit their previous quarter’s VAT return using MTD-compatible software by the deadline. Failure to do so can […]
