News added on 09.02.2018


Making Tax Digital

Businesses wanted for MTD pilot

HMRC is looking for businesses willing to take part in its Making Tax Digital for VAT pilot which starts in April 2018. Is it worth taking part?

MTD pilot. The pilot will start in April 2018 with a selected number of businesses being given the opportunity to submit their VAT returns via the new system. HMRC will then monitor the process to ensure the system is working as expected before rolling it out.

Why take part? You may not want your clients to take part at the moment as the system hasn't been properly tested, but there’s nothing to stop your firm applying to sign up for the pilot. By doing so, this will give you the opportunity to practice using the new system and keep on top of the latest developments. It will also give you the opportunity to suggest improvements to how it works.

Disadvantages? The most likely problem is that the new system will contain lots of bugs that need fixing which could mean it takes you longer to file a VAT return than before. But HMRC says it will address any “technical hiccups” swiftly. If, however, you find that you no longer want to take part in the trial, you can leave at any time.

How do you take part? You need to contact HMRC at HMRC will then ask you to complete a short survey which will help it establish features about your firm in order to manage the trial period.

© Indicator - FL Memo Ltd • Telephone: (01233) 653500 • Fax: (01233) 647100 • •
Calgarth House, 39-41 Bank Street, Ashford, Kent TN23 1DQ • VAT GB 726 598 394 • Registered in England • Company Registration No. 3599719