With just six days to go before the submission deadline, are you having an MTD meltdown?
Has the process of registration left you bemused and confused?
According to what we’ve been hearing, quite a few accountants may be in this position.
Setting up and registering appears to have been one of, if not the most, tricky aspects proving a stumbling block for some.
If you’re still having trouble, it’s time to get your skates on because the first quarterly submission deadline is 7 August.
In fact, those firms wanting to pay by direct debit had to register by 29 July – so that’s one deadline already gone.
What can you do to get past this hurdle? The answers are here in this quick guide, in which we break down the steps into a more straightforward procedure. Read it HERE.
There are two sets of registration:
• An agent services account
• Registering individual businesses for MTD
Perhaps the fact there are two explains some of the confusion.
Not sure what order to do it in or where to go? The guide will ensure you’re on the right path. A very brief summary of the steps is as follows:
1) Registering on HMRC’s site
2) Linking your Agent Services Account with your clients
3) Registering clients for MTD
Please do check out the guide in full and we’re sure you’ll be on your way to successful compliance.
It’s also worth checking out these top three FAQs for further clarity around conforming with MTD:
Question 1: Now that MTD for VAT is mandatory, will all businesses over the VAT threshold be automatically signed up to MTD?
No. Businesses have to be signed up to the service so that their records can be migrated in the HMRC systems. There will be no wholesale migration from HMRC.
Question 2: Can agents sign clients up to MTD in bulk?
No. Agents must follow all steps for registering their clients and this must be done one client at a time.
Question 3. Why is my new Agent Services Account not showing a list of all my clients?
The new Agents Services Account doesn’t currently show a list of clients. So, even if you have correctly mapped over all your existing credentials to this new account and client relationships are now mapped over, the ASA will not show a list of those clients.
Still want more support? Speak to our MTD experts. Email [email protected] and one of the team will be happy to call you.
You might also be interested in
