Her Majesty’s Revenue & Customs’ (HMRC) Making Tax Digital (MTD) initiative reaches its next milestone on April 1 2022, as it is extended to all businesses registered for UK VAT. In recent years, businesses have had to meet new requirements around how transactions are recorded, how a VAT return is produced, and how a VAT return is filed. Effective April 1, 2022, the legislation will be extended to all UK VAT-registered businesses, regardless of their size, revenue, or where the company is based. As such, from this date every single business with a UK VAT number, including foreign companies registered as overseas traders or those with representative offices for sales and marketing, must meet the requirements detailed below.
Source Avalara
