complete financial know how

Using Xero & affected my MTD?

Making Tax Digital came into effect from 1st April 2019.

Under the new regulations, all UK businesses that are VAT registered and above the £85,000 threshold are now required to keep their records digitally and submit VAT returns to HMRC using MTD-compatible software.

You are now unable to submit VAT returns using the HMRC website.

As Xero is MTD compliant, you will simply need to register to join MTD with HMRC before you submit your first VAT return within Xero. Your first MTD VAT return will be the first quarter which has a start date on or after 01 April 2019.

To register for MTD with HMRC, click here. In order to do this you will need your user ID and password for HMRC VAT online and your VAT registration number.

Once you have done this, you will receive a confirmation email within 3 days of doing so from HMRC. Please note that you cannot submit your VAT return until you have received that confirmation email.

After you have received the confirmation, you will only be able to submit your VAT returns to HMRC via Xero.

If you have any queries or wish to discuss the above in any further detail, please contact us using the details provided below.

01908 219100

enquiries@advaloremgroup.uk

Share Now:

Posted in: Cloud Accounting, HMRC, VAT, Xero