Get The Best Support For Making Tax Digital

Business name, address and VAT registration number

VAT accounting schemes

VAT on goods and services supplied (total amount of purchases)

VAT on goods and services received (total amount of sales) 

Adjustments made to returns

“Time of supply” and “value of supply” (value excluding VAT) for everything bought and sold (nature of good sold)

The rate of VAT charged

Reverse charge transactions

Total daily gross, taking into account a retail scheme

In case, you’re using a compatible accounting software then only share 

Total daily gross, taking into account a retail scheme (no need)

Thus, we only require VAT accounting schemes

Yes, all business registered for VAT has to sign up for MTD from April 1, 2022. There is a surcharge if you don’t sign up after the due date.

If you’re a VAT-registered business, you need to record and submit VAT returns electronically/ digitally using compatible accounting software. 

Businesses of any size must use software to keep digital records of specified VAT-related documents.

Stored records must include designatory data and summary VAT data for the period.

The use of multiple pieces of software is allowed.

The format of the VAT return is a 9-box summary that needs to be filed via the HMRC’s platform, and which must be digitally linked between the customer’s source data and the digital return being submitted. Businesses will receive as well as send information to HMRC via API.

Each business must set up a new digital tax account and should follow a new authentication process.

Digital records can be submitted in a range of digital formats, including XML, CSV, and Excel, provided they are API enabled.