Are you MTD for VAT ready?

If you have just submitted, or are about to submit, your VAT return for the period January to March 2022 manually through the Government Gateway this will be the last one you will be able to submit in this way.

From April 2022 all VAT registered businesses are required to submit VAT returns through their accounts software or through bridging software which connects directly from spreadsheet or other accounts software to HMRC.  You will no longer be able to manually input VAT figures from your accounts into a VAT return - the nine VAT boxes must be filled automatically from the software which will ensure there are no errors in transposition.

Businesses who have VAT returns due to the end of April or to the end of May have either one month or two months before they need to submit their VAT returns directly from software.

Once your last manual VAT return is submitted and paid you must register for MTD through your Government Gateway.  Once registered you will be set up to submit your returns through software.  

Using accounts software is the simplest way to maintain your accounts and keep track of your income and expenses.  Of course the transactions in your accounts and the figures in your VAT return are only as good as the knowledge the person has who is recording and checking them.  If you don't have the accounts or VAT knowledge you need to get things right, a bookkeeper can do it for you.  Bookkeeping is not as costly as you might think and if it saves you being investigated by HMRC and receiving a fine for incorrect VAT returns then it is definitely worth paying for peace of mind.

We can get your business set up on accounting software and manage your bookkeeping and VAT returns for you.  We know what you can claim VAT on and what you can't and will ensure your VAT returns are accurate and submitted in advance of the deadline so you know in plenty of time how much you will have to pay.

Passing the responsibility for deadlines and the accuracy of your returns to an experienced bookkeeper will ensure your peace of mind.