VATupdate

Final countdown Making Tax Digital becomes only option

HM Revenue & Customs (HMRC – the UK tax authority), has confirmed that with effect November 1, 2022, UK VAT registered businesses will no longer be able to use their existing legacy VAT online account to file their quarterly or monthly VAT returns. This means that any business that hasn’t already signed up for Making Tax Digital (MTD) and started using MTD compatible software, won’t be able to file their UK VAT returns from this date and will therefore be at risk of missing submission deadlines, opening themselves up to penalties.

Source Avalara

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