HMRC had advised in a recent webinar that no further slippages will be allowed to their implementation timeline.
If you are VAT registered, with a turnover of more than £85,000 ( the current registration threshold), then you will enter the MTD regime with your first VAT period that starts on or after 1 April 2019.
This will mean that many businesses will enter this regime part way through their accounting year- not ideal.
I would therefore recommend that if you are VAT registered or likely to be by April 2019, and are not already using digitally compliant software, that you should aim to switch from the start of your next accounting year so that the process is a painless as possible when MTD hits.
If you will be affected , please get in touch, we have the expertise to help you.
Comments