HMRC announce 6 month MTD deferral for some businesses Category: EQ AccountingMaking Tax Digital - Posted On: Oct 30 2018 The Making Tax Digital (MTD) for VAT testing phase opened up to the public on 16 October 2018. This means that any business that meets certain eligibility criteria and is currently using MTD compliant software can now sign up in advance of the mandatory adoption date of 1 April 2019. HMRC has also announced a deferral to the start date of 6 months for some more complex businesses which include the following: Trusts ‘Not for profit’ organisations that are not companies (this includes some charities) VAT divisions and VAT groups Public sector entities that are required to provide additional information alongside their VAT return (such as Government departments and NHS Trusts) Local authorities and public corporations Traders based overseas Those required to make payments on account Annual accounting scheme users These groups will be mandated to use MTD from 1 October 2019. However this is not an excuse to rest on your laurels, MTD is fast approaching and it is important that you, and your business, are prepared. To find out more about how our EQ Accounting team can help your business, please email info@eqaccounting.co.uk or call our offices on the numbers below. Dundee – 01382 312140 / Forfar – 01307 474274. All News View the latest news stories from all of our sectors. View All News News by category View the latest news stories from a specific sector. COVID-19 EQ News People Experienced Professional Graduate Intern RGU Placement School & College Leaver Services Audit & Reporting Corporate Finance EQ Accounting Bookkeeping Cloud Accounting Management Accounts Payroll Taxation International Tax Making Tax Digital Personal Tax Specialisms Agriculture Charities Engineering & Manufacturing Healthcare Leisure Food & Drink Professions Property & Construction Technology
HMRC announce 6 month MTD deferral for some businesses Category: EQ AccountingMaking Tax Digital - Posted On: Oct 30 2018 The Making Tax Digital (MTD) for VAT testing phase opened up to the public on 16 October 2018. This means that any business that meets certain eligibility criteria and is currently using MTD compliant software can now sign up in advance of the mandatory adoption date of 1 April 2019. HMRC has also announced a deferral to the start date of 6 months for some more complex businesses which include the following: Trusts ‘Not for profit’ organisations that are not companies (this includes some charities) VAT divisions and VAT groups Public sector entities that are required to provide additional information alongside their VAT return (such as Government departments and NHS Trusts) Local authorities and public corporations Traders based overseas Those required to make payments on account Annual accounting scheme users These groups will be mandated to use MTD from 1 October 2019. However this is not an excuse to rest on your laurels, MTD is fast approaching and it is important that you, and your business, are prepared. To find out more about how our EQ Accounting team can help your business, please email info@eqaccounting.co.uk or call our offices on the numbers below. Dundee – 01382 312140 / Forfar – 01307 474274. All News View the latest news stories from all of our sectors. View All News News by category View the latest news stories from a specific sector. COVID-19 EQ News People Experienced Professional Graduate Intern RGU Placement School & College Leaver Services Audit & Reporting Corporate Finance EQ Accounting Bookkeeping Cloud Accounting Management Accounts Payroll Taxation International Tax Making Tax Digital Personal Tax Specialisms Agriculture Charities Engineering & Manufacturing Healthcare Leisure Food & Drink Professions Property & Construction Technology