Understanding Making Tax Digital for VAT
Starting 1 April 2022, all VAT (value-added tax) registered businesses must comply with Making Tax Digital (MTD), regardless of what their turnover is. Up until that point, businesses under the VAT threshold (turnover less than £85,000 per year) didn’t have to comply with Making Tax Digital. Included in MTD are sole traders, partnerships, limited companies, landlords who have at least one property in the UK, registered charities and trusts. Keep… Read more