Currently, the MTD rules only apply to businesses whose UK taxable turnover is above the £85,000 UK VAT registration threshold. These new requirements impact all businesses voluntarily registered for UK VAT. This is because their UK taxable turnover is under the threshold. So, there is no requirement currently to comply with MTD.
Source: accordancevat.com
Latest Posts in "United Kingdom"
- UK Tribunal Clarifies VAT Liability on Amazon Marketplace Sales
- Business Entertainment VAT Rules Updated by HMRC
- Hospitality Sector Urged to Back Petition for 10% VAT Cut
- HMRC Updates Notice 742A on Option to Tax and VAT Registration Cancellation
- Colchester Institute VAT Case: Key Implications for FE Colleges and Grant Funding
