Our Managed Services team, have put together some FAQ’s based to help you understand and prepare for Making Tax Digital (MTD) for VAT.
Q: What is MTD?
Q: When does MTD start?
Q: What are the MTD exemptions?
Q: What is a deferred business for MTD?
Q: What is a digital link?
Q: What is an API?
Q: I am a VAT registered academy, will I be caught by MTD?
Q: My turnover is less than £85,000 per annum, do I have to comply with MTD?
Q: Does HMRC need to received details of every transaction?
Q: Do I have to scan all my invoices?
Q: I normally post from statements, is this allowed?
Q: What about petty cash transaction for MTD?
Q: What is MTD bridging software?
Q: When would I need bridging software?
Q: How do I choose which bridging software to use for MTD?
Q: What is a digital tax account?
Q: I don’t understand Making Tax Digital what do I do?
See for yourself, and find out how we have helped Luis McCarthy from J.MAC in preparing his business for Making Tax Digital
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