In a little under a year all businesses that file VAT returns will have no choice but to file those returns online and through dedicated accountancy software. The move is part of the Government’s Making Tax Digital programme, and businesses are far from ready.
From April 2019, the 2.55 million VAT registered businesses with a turnover exceeding the £85,000 VAT threshold will be required to file VAT returns through Making Tax Digital compliant software and not via the current HMRC portal.
The move will require businesses or their advisers to use Making Tax Digital compliant software, such as QuickBooks, Xero or Sage.
We at Kreston Reeves have been talking to our clients about the Government’s Making Tax Digital programme and the April 2019 deadline, and it is clear that the Government’s promotion and communication to support this move is not working. Businesses are just not prepared for this move....