UK tax authorities have issued a new policy paper on extending the Making Tax Digital for VAT programme. Currently, VAT registered businesses trading above the compulsory VAT registration threshold must comply with digital VAT filing. From April 2022, VAT registered businesses that do not trade above the compulsory threshold will also be required to operate MTD for their VAT reporting. According to HMRC, approximately 1.1 million VAT registered businesses meet that criterion.
Source: vatglobal.com
