Making Tax Digital for VAT now in force

From 1 April 2019, most VAT-registered businesses in the UK with a turnover above £85,000 must sign up to keep and file digital records following the introduction of Making Tax Digital (MTD) for VAT. HMRC figures have revealed that 100,000 businesses have already signed up to use the new service. HMRC has confirmed that it will take a light touch approach to issuing penalties for non-compliance as long as a business takes reasonable steps to comply with the new MTD requirements.

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