As a follow up to our last blog post on the UK Making Tax Digital, https://blogs.exact.com/support/en/2019/04/mtd-update/
Posts Tagged ‘Legislation-GB’
As part of MTD, businesses registered for VAT with a taxable turnover above the VAT registration threshold of £85,000 will need to keep VAT records digitally and file their VAT returns using MTD compatible software. This will start from their first VAT period starting on or after 1 April 2019, which for monthly returns means that their first return will be due by 7th June and for April – June quarterly returns it means that their first return will be due by 7th August.
In Product Updates 417 and 416 enhancements were made to the existing online submission of VAT returns through the Government Gateway portal.
In this blogpost you’ll find some frequently asked questions and answers about Making Tax Digital (MTD) for the UK.
Exact has now finished the development of the new MTD API and is now in the process of finalizing dates with the HMRC for the required certification. In the meantime, we hope to soon be shown on the development list issued by the HMRC.