With over 12 years of experience we help companies reach their financial and accounting goals. Abishel Accounting is a values-driven consulting and accounting firm.

Abishel Accounting

Contact Us Today

+44 7749036031

HMRC MTD VAT November Update

From‌‌‌ ‌‌Tuesday 1‌‌‌ ‌‌‌‌‌‌‌‌November 2022, VAT-registered businesses will no longer be able to use their existing VAT online account to submit their VAT returns. They must now sign up to MTD and use MTD-compatible software to keep their VAT records and file returns.

If you have not registered your business for VAT MTD, HMRC are now start signing up all remaining businesses to MTD until 15 May 2023. This means that you no longer have to sign up your clients to MTD.

If you haven’t started using compatible software already, you must follow these steps now:

Step 1. Choose MTD-compatible software that’s right for the business

Step 2. Check the software permissions to allow it to work with MTD. It will take you to GOV‌‌‌.UK to  ‘manage permissions for tax software’.

Step 3. Keep digital records for current and future VAT returns Step 4. File future VAT returns using the MTD-compatible

Step 4. File future VAT returns using the MTD-compatible

Author

Fungayi Mukosera