VAT returns set to go digital

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.

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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”.

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