Bray Accountants No Comments

The vast majority of VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) are now required to follow the Making Tax Digital rules by keeping digital records and using software to submit their VAT returns, the introduction of compulsory Digital Links being delayed until 1st April 2021. Those VAT registered businesses below the VAT threshold will not be required to use the system until 1st April 2022, although they can choose to do so voluntarily.

Leave a Reply

Your email address will not be published. Required fields are marked *