Making Tax Digital for VAT – When to Register

When enrolling yourself into Making Tax Digital for VAT you should consider the timing very carefully Once signed up, HMRC will expect all future VAT returns (and any current or previous returns outstanding) to be filed through Making Tax Digital software. There are further restrictions if you pay your vat by direct debit as it is currently taking around 15 days for the direct debit to be transferred to the new system.

As an example, if your first full vat quarter, falling on or after 1 April 2019 is for the period 1 April 2019 to 30 June 2019, then, if you have a direct debit, you should sign up on or after 15 May 2019. If you do not have a direct debit then you can sign up from 8 May 2019 i.e. after the VAT return for the previous quarter to 31 March 2019 has been filed.

THE BUDGET 2024
Reductions in national insurance, raising the threshold for the Child Benefit Charge. All the key tax changes announced in the budget summarised here……
SPRING STATEMENT
With energy prices increasing and inflation returning to levels last seen in the 1990’s, the Chancellor’s speech contained more on tax than anyone could have expected.
1.25% increase in National Insurance and tax on Dividends
The government announces tax changes to fund £12 billion a year to be spent on the NHS and social care across the UK. National Insurance… Read more: 1.25% increase in National Insurance and tax on Dividends
Budget News – Wednesday 3rd March 2021
The key announcements in the Budget on Wednesday 3 March 2021…….. Budget Key Points.
Covid-19: Support for businesses
Following the latest government briefing, the link below provides a summary of the help available for businesses including the job retention scheme, grants, loans, VAT… Read more: Covid-19: Support for businesses

Making Tax Digital for VAT – When to Register

ADDRESS:

PAD TAX ACCOUNTANTS IN GRANTHAM

Accountants and Tax Advisors Grantham | Pad Tax Accountants Grantham