Making Tax Digital becomes compulsory for VAT Registered Businesses
Making Tax Digital (MTD) becomes compulsory for all VAT registered businesses from April 2022, even if your business is below the threshold. See the full list of requirements from HMRC here including which records you must keep digitally, how to keep digital records and when to send your VAT return.
From 1 April 2022 all VAT registered businesses must sign up, whatever they earn.
You must add all your transactions to your digital records, but you do not need to scan paper records like invoices or receipts.
You must have links between the software you use by your first VAT period after 1 April 2021.
If you still do paper records then contact us to help get you digital and compliant in line with the new regulations. View our available services here.
