Skip to content

The links to products and services featured on this site are from companies which we may receive compensation.

MTD for VAT: Our video series answers your small business questions

The next phase of Making Tax Digital (MTD) for VAT is on its way, and soon. From April 2022, VAT-registered businesses with taxable turnover under £85,000 that are submitting VAT via the HMRC portal or through the post will have to maintain records digitally and file through MTD-compatible software.

MTD for VAT may feel like a point of frustration for some small businesses, who have struggled with the maddening uncertainty of the past two years only to emerge and face further, government-mandated disruption.

But this isn’t the whole picture, with MTD for VAT a real effort to revolutionise the tax process, making it easier and more efficient for small businesses, who can also benefit from a gentle nudge in the digital direction.

However, we understand that reading about the importance of taking your medicine isn’t always as compelling as it could be. This is why we at Xero created a series of videos that answer small businesses’ questions regarding MTD for VAT, helping you tackle your compliance conundrums.

What to expect

Our MTD for VAT video series sees our very own experts address pressing questions you may have as a small business owner preparing for MTD for VAT.

Whether you’re just getting started and looking to understand more about MTD, or you’re further down the road to compliance and have more specific questions, like how you submit an MTD VAT return if there are partial exemptions, we’ve got you covered.

And small business advisors can find plenty of support here, too. With accountants and bookkeepers offering vital guidance to small businesses making this journey, our video outlines precisely what their role is, and how they can ease this transition for affected clients.

While these videos should answer all your questions about MTD for VAT – and possibly many more you hadn’t thought of yet – you can also check out Xero’s handy resources for accountants and small businesses, including a breakdown of the key deadlines for MTD.

The post MTD for VAT: Our video series answers your small business questions appeared first on Xero Blog.

The next phase of Making Tax Digital (MTD) for VAT is on its way, and soon. From April 2022, VAT-registered businesses with taxable turnover under £85,000 that are submitting VAT via the HMRC portal or through the post will have to maintain records digitally and file through MTD-compatible software.
The post MTD for VAT: Our video series answers your small business questions appeared first on Xero Blog.Read MoreAdvisors, Bookkeepers, Small business, MTD, MTD for VATSmall business – Xero Blog

Leave a Reply

ADVERTISER DISCLOSURE:

We have two goals here at Cornerstone Web Devlopers llc (CWD):

1st: Provide well-defined services to other small businesses with no hidden costs, and no surprise fees.

2nd: We are in business to make money. So. In addition to the website packages we sell, we are also leveraging our working understanding of products that we have used/are using/or have thoroughly researched to use in every capacity of our CWD business ventures. That’s where the affiliate links come in.

Our promise to you is that no recommendations we publish, or allow to be published, will be driven by the compensation. If we have an affiliate link on one of our pages it is there either because we’ve thoroughly researched the product our self, are currently using it, or have used it in one of our business websites or to conduct the business of our small business.

Where you can please support us, by clicking the links. However, please always remember our primary goal is to provide well-defined services to other small businesses with no hidden costs, and no surprise fees.

Thank you.