Filing Your VAT: Important Notification
XML-based submissions to stop in 2021 ...
Posted by Alison Mead on 07/12/2020 @ 8:00AM
HMRC recently announced some major changes to its own IT infrastructure. One of these changes is about decommissioning the current XML-based VAT system. This will cease to function from the 8th April 2021 ...
You have until the 8th April 2021 to switch over to Making Tax Digital for VAT!
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There are a number of intermediary software applications such as TaxCalc VAT Filer, as well as many third-party providers, who will be unable to complete VAT Return submissions using the old XML-bases system.
"However, they will still be able to submit using
the Making Tax Digital format!
So, this is the time that I'm strongly recommending that if you haven't already registered for Making Tax Digital for VAT (MTD for VAT), you switch over to this system as soon as you can.
You may be concerned that you are being pushed into MTD for VAT, but it really does simplify your VAT Return submissions and I've been an advocate for it since it was first introduced.
Remember, you have until the 8th April 2021 to switch over.
Until next time ...
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more about Making Tax Digital for VAT or would like some help changing over to it, call me on 01604 420057, leave a comment below or use the Messenger tool you can see in the bottom right of your screen to chat right now.
About Alison Mead ...
Alison loves bookkeeping. She has been helping clients to be better bookkeepers in Sage 50 for over 22 years and has more recently added Xero Accreditation to her list of skills.
She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.
Alison combines her role at Silicon Bullet with running two network marketing businesses and is also a Regional Leader for 4Networking as she likes to keep busy.
You know what they say, if you want something done well ask a busy person!
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