HMRC are now signing up automatically VAT-registered businesses to its new Making Tax Digital (MTD) for VAT programme. These are businesses which should have enrolled into MTD already.¹ Under MTD, businesses need to keep their VAT records digitally if they do not already do so and file their VAT returns using MTD compliant software. The Low Incomes Tax Reform Group (LITRG) warns the many thousands who are not yet complying with these MTD requirements that they will need to act now or risk left unable to file their next VAT return or pay the VAT due unless an exemption applies. This could eventually lead to them facing financial penalties.
Source: tax.org.uk
Latest Posts in "United Kingdom"
- United Kingdom Budget 2026 VAT and Indirect Tax Changes
- United Kingdom VAT Flat Rate Scheme vs Standard VAT Comparison
- United Kingdom: VAT on Full Passenger Fares for Private Hire Vehicles
- United Kingdom: Standard VAT Rate Confirmed for EV Charging from November 2026
- United Kingdom Extends Temporary Zero VAT Rate on Domestic Electricity to June 2027
