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Practical VAT issues on MTD

08 August 2018 / Neil Warren
Issue: 4659 / Categories: Comment & Analysis
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Digital winds

KEY POINTS

  • MTD for VAT-registered businesses begins in April 2019.
  • Impact of digital record-keeping on cash accounting scheme users.
  • No changes to the flat rate scheme under MTD.
  • An HMRC tool will aid software selection.

When Making Tax Digital (MTD) was announced in 2015 my initial thought was that I would not need to be involved with its finer details. After all I said to myself it’s all about software not VAT. Needless to say this approach needed a U-turn when accountants started sending me questions about MTD most of them VAT-related rather than software-based.

As readers will know MTD makes its debut for VAT returns submitted by a business trading over the registration threshold for VAT periods beginning on or after 1 April 2019. So I have...

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