Your Question:

Does MTD affect everyone?

Does MTD affect everyone?

From the 1st of April 2019, Making Tax Digital is mandated for all businesses with a turnover above the VAT threshold (currently £85,000) (except those that have been deferred).

From October 2019, Making Tax Digital is mandated for customers that have been deferred. The 6-month deferral applies to customers who fall into one of the following categories: trusts, ‘not for profit’ organisations that are not set up as a company, VAT divisions, VAT groups, those public sector entities required to provide additional information on their VAT return (Government departments, NHS Trusts), local authorities, public corporations, traders based overseas, those required to make payments on account and annual accounting scheme users.

The deferral will apply to around 3.5% of mandated customers.

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 General, Knowledge Based Articles  
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