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When Is Your First Making Tax Digital for VAT Return Due?

That depends on your VAT period ...

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POSTED BY ALISON MEAD ON 06/05/2019 @ 8:00AM

As of 1st April 2019, VAT registered businesses with a turnover above the current £85,000 threshold must use Making Tax Digital for VAT compliant accounting software to file their returns with HMRC ...

HMRC now requires businesses to use Making Tax Digital for VAT compliant accounting software!

HMRC now requires businesses to use Making Tax Digital for VAT compliant accounting software!

copyright: kantver / 123rf

This means that their accounting software must be able to connect to HMRC's own systems to file a VAT return. With the right software, this is a relatively simple process.

But when is your first Making Tax Digital for VAT return due?

  • If your VAT period has a 31 March end date, your first VAT quarter under MTD for VAT started on 1 April 2019. You first MTD return is due by 7th July 2019.

  • If your VAT period has a 30 April end date, your first VAT quarter under MTD for VAT is from 1 May 2019. Your first MTD return is due by 7th August 2019

  • If your VAT period has a 31 May end date then your first VAT quarter under MTD for VAT is from 1 June 2019. Your first MTD Return is due by 7th September 2019.

Once you've got your accounting software setup correctly, then you should have no problems sending in the Making Tax Digital for VAT returns, but it can be a little daunting.

"If you're using Sage or Xero, I can help you!"

I can offer you full training and bookkeeping support with any of the Sage or Xero accounting packages and have an indepth knowledge of Making Tax Digital for VAT. If you'd like my help or advice then do give me a call on 01604 420057 or click here to ping me an email and let's see how I can help you.

Until next time ...

ALISON MEAD


PS:

If anything I've written here resonates with you, why not visit  www.siliconbullet.com to discover how we can help you with accounts and IT support?


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More 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!

Telephone:

01604 420057

Website:

https://www.siliconbullet.com