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Is MTD relevant for sole traders as well as ltd co

Making Tax Digital for sole traders

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Apologies in advance if this is a silly question - but wanted to confirm if MTD relevant for sole traders as well as ltd companies.

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Scalloway Castle
By scalloway
07th Feb 2019 23:12

From here

https://www.icaew.com/technical/tax/making-tax-digital/mtd-guidance/mtd-...

"From April 2019: Impacts VAT reporting by VAT registered businesses and organisations (including sole traders, partnerships, limited companies, non-UK businesses registered for UK VAT, trusts and charities) with turnover above the VAT threshold"

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RLI
By lionofludesch
08th Feb 2019 08:02

Yes, it's a silly question.

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By Mike Towle
13th Feb 2019 18:29

If they are registered for VAT, then yes.

But only if their turnover exceeds the VAT threshold (currently £85k p/a). If it doesn't, they can continue as they are. At this time anyway.

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Replying to Mike Towle:
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By Lkc77
13th Feb 2019 19:22

Many thanks . Exactly what I thought but wanted clarification.

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By Red Leader
13th Feb 2019 18:32

Duh. Questions like this make me feel intelligent. Thank you.

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Replying to Red Leader:
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By Lkc77
13th Feb 2019 19:37

Likewise, responses like this make me realise how sad it is that people have the time and need to write derogative unhelpful answers. I often pre-empt my questions with ' sounds like a silly question' because I am not overconfident and am always questioning the nitty gritty of legislation. I actually think it's a reasonable question given my situation whereby my client is a small sole trader who has opted to register for VAT despite having turnover under the threshold. I've always associated 'trolling' online with youngsters with nothing better to do with their time but clearly I was wrong. Apparently adult professionals appear to show the same behaviour.

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Replying to Lkc77:
By Red Leader
13th Feb 2019 20:22

How do you know I'm an adult professional? I could be talking b0110xs whilst doing my year 7 homework.

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Replying to Lkc77:
RLI
By lionofludesch
14th Feb 2019 08:26

Lkc77 wrote:
I actually think it's a reasonable question given my situation whereby my client is a small sole trader who has opted to register for VAT despite having turnover under the threshold.

This is the first time you've mentioned that vital piece of information.

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Replying to Lkc77:
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By WhichTyler
14th Feb 2019 09:46

Lkc77 wrote:

I actually think it's a reasonable question given my situation whereby my client is a small sole trader who has opted to register for VAT despite having turnover under the threshold.

It was hard to tell the difference between your question and one from some one who couldn't be bothered to look at the guidance available with very little research. If you have made an effort and are still stuck then it helps if you explain why (eg HMRC says A on this website but ICAEW says B here, what's going on?)

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Replying to Lkc77:
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By Karen_sa
03rd Mar 2019 16:36

Well said

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By david.bransbury
13th Feb 2019 19:02

Actually I was asking the question the other way round in Oct 2017. Does MTD for VAT effect companies from April 2019.

https://www.accountingweb.co.uk/any-answers/mtd-vat-and-companies

No need to answer as we got definitive guidance.

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By MelanieC
09th Sep 2019 11:07

It's a very fair question and if you are unsure you should always ask.
Better that than think you know best then make a mistake......
Yes, it does affect sole traders over the VAT threshold and it wasn't made that clear.
All the best.

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By MelanieC
09th Sep 2019 11:07

It's a very fair question and if you are unsure you should always ask.
Better that than think you know best then make a mistake......
Yes, it does affect sole traders over the VAT threshold and it wasn't made that clear.
All the best.

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