From 1 April 2022, all VAT registered businesses are mandated to follow the UK’s requirements on digital recording and reporting Value Added Tax details. This means for the first time, any business which is below the UK VAT registration threshold of £85,000 but has elected to voluntarily VAT register will now be subject to MTD for VAT requirements.
Source: vatcalc.com
Latest Posts in "United Kingdom"
- VAT Recovery Falls Despite Increased Crackdown on Business Tax Avoidance, HMRC Figures Show
- VAT Late Filing Penalties: Software Failure and Employee Error Not Reasonable Excuse, Appeal Dismissed
- Corrupt Directors Jailed for £20m VAT Fraud After Secret Meetings and Fake Offshore Schemes
- Input VAT Denied: Insufficient Evidence and Pre-Registration Supplies—SM Development North West Ltd Appeal Dismissed
- HMRC Cannot Deny Input VAT Recovery Where Valid Invoice Exists: Eurocent (Buckingham) Ltd v HMRC
