VAT rules are changing
From 1st April 2021
HMRCs MTD 'soft landing period’ on digital links will end. This means that you will no longer be able to copy and paste information between products or spreadsheets and the information must be digitally connected for you to submit your VAT return.
All of our Sage Business Cloud products are MTD ready and will enable you to submit your VAT digitally.
From 8th April 2021
HMRC are withdrawing the XML VAT submission channel. This will affect you if you are a voluntary VAT filer not yet registered for MTD and you currently submit VAT returns through software.
If this is the case, you will have 2 options - you can file your VAT returns manually through the HMRC Gateway, or you can register now for MTD for VAT and continue to submit VAT returns through our MTD-ready software.
From 1st April 2022
Making Tax Digital for VAT will apply to all VAT-registered businesses, so those classed as voluntary with a taxable turnover below the VAT threshold will need to ensure they are MTD ready.
If you are impacted by the changes, or need to check if they will affect you, don’t worry - we’re here to help. Simply book your free telephone consultation today and we’ll help you get it done.