Correspondence from readers on topical subjects.
MTD – managing threshold decisions
I am wondering about how the change to digital filing of VAT returns will affect the collection of VAT. All my VAT registered clients bar two already use up-to-date compliant software so I hope they will not notice any difference. At present of the two that do not one uses old software and completes the details manually on HMRC’s website. Because they are below the threshold they hope to be able to continue this but if not will probably just deregister rather than buying new software.
The other client uses spreadsheets and is just over the threshold. They have never been willing to adopt accounting software so intend to deal with the problem by reducing turnover slightly to fall below the threshold so they can continue to input data manually.
At a rough estimate I think the...
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