The deadlines requiring businesses to file quarterly accounts with HMRC under the ‘Making Tax Digital’ (MTD) legislation have been postponed .
The earliest date any business will be subject to mandatory quarterly filing is now April 2019 (instead of April 2018) and that deadline only applies to businesses that are completing quarterly VAT returns. Other businesses will not have to comply with MTD until April 2020.
This will come as a relief to many, but we are still recommending that businesses make sure their current accounting systems are fit for MTD as soon as possible because it may take a few months to adapt.
If you would like further advice on this matter please call us on 01142 664 432 or email Mark Bardwell on mbardwell@smh.group
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