Making Tax Digital deadline in less than a week

Making Tax Digital (MTD) is mandatory for all VAT-registered businesses from 1st April 2022. Businesses must sign up now and select their MTD compatible software.

HMRC have said business owners have less than a week to prepare for the mandatory deadline. MTD helps businesses to get their tax return right by reducing the number of mistakes and saving them time.

As of December 2021, almost 1.6 million taxpayers had joined MTD for VAT and over 11 million returns were submitted successfully. Approximately one-third of VAT registered businesses with a taxable turnover under £85,000 have voluntarily signed up for MTD ahead of the deadline, with thousands signing up every week.

All VAT-registered businesses should sign up because they must use MTD for their first VAT return starting on or after 1st April 2022. Business owners should use this time to choose the software which is right for their business.

Making Tax Digital for VAT - what is compatible software?

Article by GOV.UK