Making VAT Digital
Making Tax Digital for VAT, or Making VAT Digital (MVD) this section sets out who needs to follow the MVD rules, what software to use, what records to keep, and what agents need to do.
Making tax digital for VAT. Will it apply to me? Am I exempted? Do I need new software to file VAT returns online?
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HMRC says that is working with more than 150 software suppliers who have said they’ll provide software for Making Tax Digital for VAT in time for April 2019.
A letter for paid subscribers to use and edit.
HMRC has published VAT Notice, 700/22: Making Tax Digital for VAT, which sets out who needs to follow the MTD rules, what records need to be kept, and what agents need to do.
Finance Bill 2019 contains measures for new penalties for late payment of Corporation Tax, Income Tax, Capital Gains Tax, and VAT as well as new measures to change VAT repayment interest rules so that they more closely align to the rules for Income Tax Self-Assessment and Corporation Tax.