Venues required by law to record contact details Recording Contact Details The Governments’ new requirements for businesses mean that premises…
HMRC has now issued detailed guidance on record keeping and return requirements for Making Tax Digital (MTD).
VAT Notice 700/22 clarifies that spreadsheets are an acceptable means of keeping business records, provided that a bridging software is used to link the excel documents to the Government Gateway. It includes a number of suggested accounting systems that can be used to comply with MTD for VAT.
You must comply with the regulation if:
The VAT taxable turnover is £85,000. MTD for VAT will apply for the period beginning 1 April 2019, though HMRC has allowed a ‘grace’ period of a year to allow businesses to get up to speed with the new regulation.
If you would like any assistance with Making Tax Digital or any other financial advice, please do not hesitate to us on 01295 477 250 alternatively you can email firstname.lastname@example.org