Making Tax Digital is regarded as one of the largest changes to the administration of the tax system in the UK in recent years. However, with only 7 months to go until the introduction of Making Tax Digital for VAT implementation date of 1 April 2019, the British Chamber of Commerce reported that a large proportion of UK businesses have ‘little or no awareness’ about the switch to a digitised tax system.
Here are some key facts:
There are certain exemptions where businesses will not need to follow the Making Tax Digital rules, you will need to make direct contact with the HMRC and they will need to be satisfied that the exemption applies.
As a Sage 200cloud customer, if you are not already using to the most current version of Sage 200cloud, you will have two options available
Do not delay, if you have not yet discussed the options with one of our Sage consultants, please get in touch.
In July the HMRC published an update on Making Tax Digital
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