MTD For VAT The deadline for all VAT records to be recorded and submitted digitally is fast approaching. From April 2022, the requirements to keep digital VAT records and send returns using MTD-compatible software will apply to all VAT-registered businesses. This means that even businesses that are below the VAT threshold and voluntarily VAT-registered must meet MTD rules. This stage is the next part of HMRC’s 10-year strategy for the tax system. “to improve its resilience, effectiveness and support for taxpayers” Many Still Need To Opt-In According to HMRC’s latest figures in September 2021, only 30% of those VAT registered […]
