As of 1st April 2022, all VAT registered businesses will be required to use Making Tax Digital for their VAT accounting. This includes around 700,000 businesses that are registered for VAT, but below the VAT threshold.
The main change is that you will no longer be able to submit VAT returns manually via HMRC’s website for your first full VAT period after 31st March 2022. It must be done via specific software. This is a big change and businesses need to be prepared. More information can be found by following this link https://www.gov.uk/vat-record-keeping/making-tax-digital-for-vat
Unlike before, there will be no soft landing period this time.
If you would like advice or support, please do not hesitate to contact us on 01827 54944.