VAT returns set to go digital

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THERE’S less than one month to go until VAT goes digital for more than one million businesses.

From April 1, 2019, any VAT-registered business with a taxable turnover above the VAT threshold – £85,000 – must keep digital records and submit VAT returns online.

HMRC has written to businesses about what they should do and how.

It said its Making Tax Digital scheme will give businesses and individuals “24/7 access to their digital accounts, as well as a complete view of their tax liabilities and entitlements”.