UK: HMRC – Making Tax Digital

13 December 2018
Uk News

A letter writing campaign has been started by the HMRC to inform businesses once again that the way they keep VAT records and submit their VAT returns is changing.

The letters are being sent to businesses who will be within the scope of the new Making Tax Digital (MTD) for VAT, which comes into effect from 1 April 2019.

MTD will initially be for VAT purposes only and will impact businesses with a turnover above the current VAT threshold of £85,000.

HMRC plans to send letters to all affected businesses by the end of November, although this may be subject to amendments.

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