Deadline set for closure of the VAT online account
Date: 30/08/22
From Tuesday 1 November 2022, VAT-registered businesses will no longer be able to use existing VAT online accounts to file quarterly or monthly VAT returns. The closure of the VAT online account will mean that VAT-registered businesses will have no other choice but to submit VAT returns through MTD compatible software.
By law, VAT-registered businesses must have signed up to Making Tax Digital (MTD) and must use MTD-compatible software to keep VAT records and file VAT returns. Failure to sign up for MTD and file VAT returns through MTD-compatible software may result in penalties.
If you require any assistance or advice on becoming MTD compliant please contact our office on 01524 67111.
Author: Richard Proudlove
A former pupil at Lancaster Royal Grammar School, Richard joined Scott & Wilkinson in 2016, following a period of twenty years working in the IT industry implementing and supporting finance systems for companies across the globe. Richard is...
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