Vale & West Chartered Accountants Blog

Category Archives:MTD

Making Tax Digital for VAT – What you need to know

The next few years will see several significant changes to taxation, including, more immediately, the further expansion of Making Tax Digital (MTD) for VAT in April this year. Read More

Businesses that do not use MTD for VAT make more errors than those that do, study reveals

Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.

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Making Tax Digital – what you need to know ahead of 2022-23

On 1 April 2019, HM Revenue and Customs (HMRC) introduced its new digital tax initiative – Making Tax Digital (MTD) – and its first phase, MTD for VAT.

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MTD for Income Tax delayed until April 2024, HMRC confirms

Making Tax Digital (MTD) for Income Tax will be delayed until April 2024, the Government has confirmed. Read More

HMRC letters remind businesses of VAT payments change

Reminder letters are being sent out to tens of thousands of UK companies explaining changes in the Making Tax Digital (MTD) system and how it affects them.

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Register for Making Tax Digital for VAT or risk penalties, HMRC warns

Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned.

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HMRC: Making Tax Digital to be extended to all VAT-registered businesses from 2022

HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022. Read More

Businesses who defer VAT payments should continue to file returns as usual, says HMRC

Businesses who have deferred VAT payments until the end of June 2020 should continue to file Making Tax Digital (MTD) returns as normal, the regulator has confirmed. Read More

SMEs urged to go digital: £15.3 billion could be added to the UK economy

A recent study suggests that the UK economy could benefit by up to £15.3 billion if SMEs introduce the use of digital technology, tools and connectivity within their organisation. Read More

No small issue – The importance of accounting in microbusinesses

Small and medium-sized enterprises (SMEs) account for the majority of the business population in the UK, producing trillions of pounds in revenue every year. However, a large amount of their time is spent working on financial admin. Read More

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