With effect on April 1, 2022, Making Tax Digital (MTD) for VAT will be extended to all UK VAT registered businesses – regardless of their size and whether they are registered for VAT purely on a voluntary basis. This will affect approximately 1.1 million VAT registered businesses with taxable turnover below the current VAT threshold (which is set at £85,000 until 31 March 2024) that are not currently required to meet MTD requirements for VAT reporting and record keeping.
Source Avalara
