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Get Ready for Making Tax Digital for VAT/ March 13, 2019
Well if you’re reading this post then you are doing better than thousands of other business owners out there. Statistics from professional institutes indicate that 45% of businesses still don’t know what Making Tax Digital is or how it applies to them. That’s worrying! So, what is Making Tax Digital for VAT? Simply put, it is legislation which HMRC is introducing to require businesses to keep digital accounting records, rather than paper based or other manual methods. In addition, HMRC are changing the way in which we are allowed to submit our VAT returns. Certain businesses will no longer be able to login to
