Making tax digital (MTD) is the latest initiative from HMRC to streamline the UK tax system.

From 1 April 2019 all UK VAT registered businesses with a taxable turnover above the VAT registration threshold (currently £85,000) will be required to keep digital records for VAT purposes and VAT Returns must be submitted through MTD compatible software.

MTD requirements are expected to be extended to income tax and corporation tax from April 2020.

What do you need to do?

You need to ensure that your accounting records comply with the MTD requirements and that you have accounting software which will enable you to submit your VAT Returns from 1 April 2019.

PATTON RAINEY AND ASSOCIATES are committed to making the transition to MTD as easy and seamless as possible for our clients.  Please contact us if you wish to discuss what steps you need to take or require our assistance with book keeping and VAT submission.

If you currently use computer software you should check with your software provider that they are ready for the changes which are coming.

Related Articles

We're excited to be expanding our team and are looking ...

The Autumn Budget Breakdown

Whilst today’s Autumn Statement has brought about some changes it ...
As an employer you must adhere to the minimum wage ...

Spring Budget 2023

Following the budget on 15 March 2023 we have compiled ...

Patton Rainey Stenson Limited

6 East Bridge Street, Enniskillen, Fermanagh, Northern Ireland, BT74 7BT

+44 (0)28 6632 3807

Accounting Services

  • Accounts preparation
  • Auditing services
  • Limited company accounts
  • Management accounts
  • Charity accounts
  • Payroll bureau services

Taxation Services

  • Income tax
  • Corporation tax
  • Capital gains tax
  • Inheritance tax
  • Value added tax
  • Tax planning

Advisory Services

  • Business consultation
  • Business plans
  • H M Revenue and Customs investigations

Social Media