Making Tax Digital

Here are a few of the most common questions we are asked about making tax digital. If you have a query, it might be answered here!

I keep all my business records on a spreadsheet which also calculates my VAT return figures for me. I then just type them onto HMRC website to submit my VAT. Will I have to change the way I do this?

What is bridging software?

I’m VAT registered, but my turnover is below £85,000, so I don’t need to worry about the April 2019 deadline?

If MTD starts from 1 April 2019, which VAT return does it first apply to?

I use accounting software to keep my records, but I put data into a spreadsheet to help me calculate the VAT return. Can I still do this from April 2019?

I am a retailer and keep daily taking records from my till. This is summarised weekly and manually input into our accounting software. Are my records MTD compliant?

I am partially exempt for VAT purposes, and must make a quarterly adjustment for this, which I calculate on a spreadsheet. I then make a manual adjustment on my VAT return before submission. How do I do this under MTD?

How do I sign up to Making Tax Digital for VAT?

What is compatible software?

What does digital record keeping mean?

Is my business eligible for the 6 month extension?

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