As per the regulations in 2018 (SI 2018 No. 261) VAT registered companies with taxable turnover above the VAT registration threshold must keep records in digital form and file their VAT Returns using cloud accounting software.

Afterwards, there was another legislation introduced in 2021, where MTD will apply from April 2022 to all UK VAT registered businesses regardless of their turnover and to certain business income tax records from April 2023.

At SEARS Chartered Certified Accountants, we can assist you with the setup, training, licence and supply of the right cloud accounting software package for your company, so you can be MTD compliant. We can also calculate and submit VAT on your behalf to ensure compliance and avoid risk of potential penalties by HMRC. We will also help you manage and reduce your VAT liabilities.