HM Revenue & Customs (HMRC) has warned businesses across the UK that the registration process for Making Tax Digital (MTD) for VAT can take seven working days.
This means that VAT-registered businesses turning over £85,000 or more need to register more than seven days before submitting their first MTD VAT return if they want to pay their bill by direct debit.
The quarterly nature of MTD for VAT returns means that the first quarterly submissions will not actually become due for most until at least July 2019.
Registering involves setting up a Government Gateway user ID and ensuring compatible software is in place.
Sarah Jenkins, General Practice Partner at Milsted Langdon, said: “We have seen a number of queries raised regarding the date by which businesses should be registered for Making Tax Digital, which shows that there is still a degree of uncertainty surrounding this new regime.
“We are already helping hundreds of businesses prepare their records for Making Tax Digital and can help them with the registration process should they have queries.”
To help businesses register on time and report their information correctly our team have also put together a set of useful calendars that can be downloaded below. These highlight the dates by which companies have to comply.