News added on 01.02.2019

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Have you created your business tax account?

Some aspects of Making Tax Digital are on a go slow while others are being ramped up by HMRC. For example, if you don’t have one you’ll need to set up a digital business tax account (BTA). Why, and how do you do it?

If you have an accountant, or someone who handles tax compliance matters for your business, you may not have a business tax account (BTA). Conversely, if you use one of HMRC’s online services yourself, say because you operate your firm’s payroll, you probably have one even if it’s not obvious. It’s easy to check if you have one. When you log into your HMRC home page, it will say “Business tax account” in the GOV.UK banner at the top.

If MTD for VAT (MTDfV) will apply to you, you need a BTA sooner rather than later. For most registered businesses, MTDfV kicks off from the first VAT return period starting on or after 1 April 2019, so you need to have, and be reasonably familiar with, your BTA by then. If you don’t have a BTA already, it’s fairly easy to create one. First you’ll need a Government Gateway ID. Then visit HMRC’s online services page, answer a couple of questions about your business and follow the on-screen prompts.

Some HMRC communications can only be done through a BTA. Although there are rare exceptions, you’ll need a BTA by April if Making Tax Digital for VAT will apply to you. Visit HMRC’s online services page, answer a few questions and follow the prompts. It’s a fairly simple and quick process.

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