New law now in place for VAT returns

From today (1 November), businesses are no longer be able to use their existing Value Added Tax (VAT) online account to submit VAT returns.

By law, all VAT-registered businesses must now sign up to Making Tax Digital (MTD) and use compatible software to keep their VAT records and file their returns.

MTD’s aim is to help businesses get their tax right first time by reducing errors, making it easier for them to manage their tax affairs by going digital, and consequently helping them to grow.