Making Tax Digital (MTD)

Making Tax Digital (MTD) will come into effect from April 2019. At Ahmad Accountants we ensure that we comply with HMRC requirements and file all VAT Returns prior to the deadline date for all our clients.

MTD is a new concept enforced by HMRC, which introduces fundamental changes in the way tax documentation is processed and submitted. This new implementation will allow the tax system to operate in a more efficient and effective way, which not only saves time but helps tax payers understand the payment process.

Under the new MTD process all VAT registered companies with a taxable turnover above the VAT threshold (currently £85,000) will be required to keep records in a digital form and file their VAT Return via a commercial software.

Timeline:

April 2019

Making Tax Digital mandated for all customers

October 2019

Making Tax Digital mandated for customers that have been deferred

When will your first MTD VAT return start?

VAT Periods                                                  First Mandatory

                                                                         MTD VAT Return

Jan-Mar/Apr-June/July-Sept/Oct-Dec                   Apr-Jun 2019

Feb-Apr/May-July/Aug-Oct/Nov-Jan                     May-Jul 2019

Mar-May/Jun-Aug/Sept-Nov/Dec-feb                    Jun-Aug 2019

At Ahmad Accountants we are up to date with the latest accounting software which makes the new MTD process simple and straighforward, as it means that we are able to process client accounts via an excellent commercial software.