Lunch & Learn - is your VAT ready for Making Tax Digital?

On 13 July 2018 HMRC published new guidance and law describing the requirements for Making Tax Digital (MTD). It requires VAT registered businesses with taxable turnover above £85,000 to keep records in digital form and file their VAT returns using software.

Although HMRC have listened to taxpayers and have deferred the start date for more complex businesses, the majority of single VAT registrations are mandated to follow the new MTD regime from 1 April 2019. The deferred group will follow from 1 October 2019.

These changes affect both record keeping and the process by which the VAT return is submitted. Records will need to be digital, maintained on ‘functional compatible software’. VAT returns must be submitted to HMRC by means of the business’s functional compatible software communicating digitally via HMRC’s API platform. The online portal will no longer be available for businesses which are required to comply with MTD.

Are you ready for these changes?

At this FREE lunch & learn session, specialists from science park based Grant Thornton, will discuss what the requirements are and how the changes may impact your business.

If you work on the science park - please complete the form on the right

Otherwise please register via EventBrite