Businesses are reminded to take steps to prepare for Making Tax Digital for Value Added Tax (VAT) before it becomes mandatory for all VAT-registered businesses from 1 April this year.
Making Tax Digital is designed to help businesses eliminate common errors and save time managing their tax affairs.
Making Tax Digital for VAT is part of the overall digitalisation of UK Tax.
To sign up to Making Tax Digital VAT, businesses, or an agent on a businesses’ behalf, need to:
- visit GOV.UK and choose Making Tax Digital-compatible software
- keep digital records starting from 1 April 2022 or the beginning of their VAT period
- sign up and submit their VAT Return through Making Tax Digital
If businesses have not yet signed up to Making Tax Digital for VAT, they should do so now to ensure they are ready in time for the April 2022 deadline.
For further information visit GOV.UK