Making Tax Digital for VAT has been mandated and live since April 2019 and it is expected to benefit businesses and practices get onto the right tax codes and reduces losses for both HMRC and businesses.
According to HMRC, many of the 1.2 million businesses impacted by the Making Tax Digital rules would need to file their first quarterly VAT return by the VAT filing date to the department using software. Businesses that plan to pay by direct debit must register by 27 July.
BTCHub is cloud-based software that allows you as an agent to file VAT returns on behalf of clients via APIs to HMRC. This means your clients’ data transmits digitally from your existing VAT spreadsheets or bookkeeping package to HMRC. In order to allow this you need to sign up for a new Government Gateway account.
Download the guide to understand how the process works, and how to link your existing clients into your own Agent Services Account. We’ve also included helpful links to further information.
MTD key facts
VAT returns for businesses with taxable turnover of over £85,000 must be submitted with Making Tax Digital compatible software such as BTCHub
MTD for VAT was mandated from April 1st, 2019. This means the first return period starting on or after this date must be Making Tax Digital compatible
Businesses that pay by Direct Debit must sign up at least 15 working days prior to submission
Once your clients are set up on MTD for VAT, they will no longer be able to use VAT Online Services
How we can help you
To speak to one of our team about signing up to BTCHub, please call us on 0345 241 5030 option 1, or email [email protected]k