Making Tax Digital for VAT reporting will be mandated by HMRC from April 2022 for businesses below the VAT turnover threshold of £85k.
What do the changes mean for me?
If this applies to you, it means that you will need to keep your financial records in a digital format and submit a VAT return that links back to those records (unless they meet the criteria for exemption and you apply to HMRC for it ahead of the requirement becoming mandatory).
Exemptions are available for those deemed to be genuinely digitally excluded by reason of age, disability, location, religion, or other reasons.
Deals for members on software
To help you comply, we've negotiated deals with two software providers. You can find out more by following the links.