How Do I File My VAT Return Once I Am In MTD For VAT?
Once you are registered for MTD for VAT, you must NOT submit a VAT return using HMRC’s existing portal as it will not constitute a valid return.
Instead, ‘functional compatible software’ must be used to file the VAT return with HMRC. Most accounting packages will have this functionality built in. However if you use spreadsheets this will not be the case, and therefore you will need to purchase bridging software which will link your spreadsheet to HMRC’s systems and allow the VAT return to be filed. In these circumstances, the combination of the spreadsheet and the bridging software will constitute the ‘functional compatible software’.
Please note that the way VAT is calculated is NOT changing and so your VAT payments/refunds will continue to be worked out in the same way.
If I Am Exempt How Do I File My VAT Returns?
If HMRC agree you are exempt from MTD for VAT then you must continue to file your VAT returns as you have been doing in the past.
If I Am Not Exempt When Do I Have To Comply With MTD For VAT?
The new regime begins on 1 April 2019, however the exact date from which you must be MTD for VAT compliant depends on what your VAT periods are: If your next VAT quarter end date is 31 March 2019, or you file monthly, you must comply with MTD from 1 ...
Does MTD For VAT Apply To Me?
If you are an individual, sole trader or business (including a limited company) and you are already VAT registered, and you have VATable turnover of £85,000 or more in the 12 months ending 31 March 2019 then you come within the new MTD regime, unless ...
How do I register with HMRC for MTD for VAT?
Register with HMRC for MTD for VAT 7 days after you have filed and paid for your last traditional VAT return Register at least one week before your first MTD VAT Return is due. Register at ...
Do You Have An VAT Excel Template I Can Use?
Yes, we have a blank template that you can use to submit your VAT return to HMRC with. Please download the template from the article. Once you have updated the values you can then save to your desktop ready for sending to HMRC.