3 Deryn Court
Wharfedale Road
Pentwyn
Cardiff
CF23 7HA
Posted 15.3.18

Making Tax Digital starts April 2019

The Government and HMRC have announced that they are making it mandatory for VAT registered businesses with a turnover above the VAT Registration threshold, currently £85,000, to keep their accounting records digitally. Full details are not yet available but it is intended that this will apply from the first VAT period starting on or after 1 April 2019.

Under the available guidance individual transactions will need to be recorded digitally. These computerised records will need to interface seamlessly with any subsidiary records eg till records and must be capable of filing the VAT return automatically to HMRC. HMRC is confident that software companies will make compliant products available in the next few months and testing of the process is intended to start in April 2018. 

If you are considering changes to your accounting system or wish to discuss the implications for your business Roblins would be happy to advise you.  

Back to previous page

LATEST NEWS
  • Making Tax Digital starts April 2019Thursday, March 15, 2018View Article
  • 2017 Tax Returns - Daily penalties loomThursday, March 15, 2018View Article
  • Trainee Accountant VacancyThursday, April 13, 2017View Article
  • New rules for landlords in WalesWednesday, February 17, 2016View Article
  • Tax changes for buy to let landlordsTuesday, December 22, 2015View Article

OTHER NEWS

By using this site, you accept its use of cookies | Tell me more | I understand, don't display this message again