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HMRC

Making Tax Digital for VAT

What is it?

“Making Tax Digital for VAT requires VAT registered businesses with taxable

turnover above the VAT registration threshold to keep records in digital form and file

their VAT Returns using software.” HMRC VAT Notice 700/22

 

When does it start?

At the start of the first full VAT period on or after 1st April 2019. For example, if you

have a quarterly VAT period from 1st March to 31st May 2019, then MTD starts for you

on 1st June 2019. If you file monthly VAT returns, then your start date will be 1st April 2019.

 

When should I register?

At the start of your first MTD VAT period, as per previous question. You must continue to submit non-MTD VAT returns via the normal route i.e. by post. Do not register early, as the system is still in trial and subject to change.

 

How do I register?

Just visit this website https://www.gov.uk/guidance/sign-up-for-making-tax-digital-for-vat and answer the questions. We will send out a small document which will include screenshots of the registration process shortly.

 

When will our first MTD VAT return need to be submitted electronically?

If your VAT is monthly, then the April 2019 return will be due by the 7th June 2019. i.e. one month and 7 days after the end of the VAT period.

 

How much does the software cost?

SWIFTsoft shall be providing the software update free of charge, to customers with a valid (and paid) software support contract for our SuperFlex and Colossus software packages. The situation is similar for customers who use Intact software.

 

Where can I find more information?

Just visit this website https://www.gov.uk/government/publications/vat-notice-70022-making-tax-digital-for-vat or contact our support department on 028 6638 8836 or support@swiftsoft.com