Making Tax Digital (MTD) for VAT was initially rolled out for VAT registered businesses with turnover above the VAT registration threshold of £85,000 in April 2019.
- Phase one, in April 2019, required businesses with an annual turnover above the UK VAT registration threshold to submit their VAT returns electronically.
- Under phase two, businesses were required to have in place digital links between their source/original data all the way through to the final VAT return figures submitted to HMRC. Originally planned for April 202, this phase was delayed until April 2021 due to the COVID pandemic.
Source aab.co.uk
