Making Tax Digital

Tax / MTD deadline pushed back for ‘small minority’

HMRC has confirmed that ‘a small minority’ of VAT-registered businesses with more complex requirements will not be required to switch to its flagship Making Tax Digital (MTD) for VAT regime at the deadline of 1 April 2019, but will be given a further six months to prepare

Tax / IT head sets out digital tax priorities for HMRC

HMRC is focusing IT efforts on developing the Customs Declaration Service, Brexit transition and replacing the obsolete Government Gateway over the next two years, while the API development programme is at the heart of the rollout of Making Tax Digital. Sara White reports on HMRC's IT vision

Tax / Lords to grill HMRC over Making Tax Digital progress

Senior executives from HMRC and the Treasury will give evidence on the balance of power between HMRC and the taxpayer and progress on the rollout of Making Tax Digital (MTD) for VAT to a House of Lords select committee this afternoon

Tax / Asquith: Making Tax Digital for VAT is only the beginning

HMRC has the technology to roll out Making Tax Digital faster, as with pre-approved invoicing in Italy and Spain, but is treading carefully, says Richard Asquith, vice president of global tax compliance at Avalara 

Tax / Budget scheduled for 3:30pm on 29 October

Although traditionally announced in the early afternoon after PMQs, the Treasury has confirmed that the Chancellor will deliver his Budget at 3:30pm on Monday 29 October

Tax / AAT launches software guide to Making Tax Digital

The Association of Accounting Technicians (AAT) has launched a detailed guide to help accountants and bookkeepers prepare clients for the first implementation phase of Making Tax Digital

Tax / HMRC’s use of powers criticised in Lords committee

HMRC's extension of powers for tackling tax evasion were under fire from witnesses at a Lords committee, with concerns being raised about the upholding of individual rights, and whether safeguards for protecting individual rights have kept pace with enforcement activity

Tax / Making Tax Digital for VAT pilot now live for businesses

The pilot is intended to allow up to 500,000 businesses to get fully involved with Making Tax Digital (MTD) for VAT and test it in full ahead of the April 2019 introduction of the system

Tax / Lords committee told 'less than 15%' of businesses prepared for MTD

A Lords sub-committee has taken evidence from experts on the digitisation of VAT returns by businesses with turnover above £85,000, which is due to begin in April 2019, and information provided by HMRC on the preparations they need to make

Tax / Making Tax Digital for VAT - practical examples

Stan Dencher, specialist tax writer at Croner-i examines some practical examples of how Making Tax Digital for VAT will change the way companies submit their quarterly VAT numbers via digital reporting from 1 April 2019

Tax / Avalara launches free Excel Add-In for Making Tax Digital for VAT

US software developer Avalara is set to disrupt the market with the launch of a free Excel extension for Making Tax Digital for VAT which will allow companies to upload Excel data directly into HMRC's VAT filing API using a Microsoft Add-In, reports Sara White

Tax / 53% of accountants’ clients ready for Making Tax Digital launch

Significant numbers of accountants’ clients are still struggling to prepare for the advent of Making Tax Digital for VAT, which is now only six months away, according to the Association of Accounting Technicians (AAT) 

Tax / Making Tax Digital and rural businesses

With Making Tax Digital on the horizon, rural businesses risk being left behind and labelled as ‘non-compliant’ unless they act quickly, warns Mark Pryce

Tax / 40% of businesses unaware of Making Tax Digital for VAT

Over 40% of businesses about to be affected by Making Tax Digital for VAT are not yet aware of it, despite the April 2019 deadline for its introduction, and 20% have made no preparations, according to research by ICAEW

Tax / House of Lords call for evidence on extent of HMRC powers

The House of Lords has issued a two-week call for evidence into the extension of HMRC powers as part of government plans for Making Tax Digital set out in the draft Finance Bill 2018