So what’s next - challenges for businesses Despite the revised timetable and the issue of some of the proposed detailed requirements, software developers will need time to produce and test the necessary software to meet the new requirements under MTDfB. Currently, 99% of VAT returns are filed online, yet just 12% of these returns are submitted using software. However, under MTD, VAT returns will need to be filed directly through functional compatible software rather than the information for the return being input directly via the Government Gateway with supporting spreadsheets.
Howwe can help Whatever the size of your business, MTD will ultimately affect your firm and we will help you to prepare for the new system ahead of the start date of April 2019. We, as your advisers, are carefully monitoring the progress on this issue so that we can deal with the new requirements once these are finalised. To discuss how the MTD reforms may affect you and your business, please contact
DISCLAIMER: This newsletter is for guidance only, and professional advice should be obtained before acting on any information contained herein. Neither the publishers nor the distributors can accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the contents of this publication.
graham.doubtfire@ scruttonbland.co.uk or tel 01206 838400.
Graham Doubtfire, Scrutton Bland Tax Partner
Call: Cambridge: 01223 928065 Colchester: 01206 838400 Diss: 01379 643444 Ipswich: 01473 267000 Visit: www. scruttonbland .co.uk
Scrutton Bland Financial Services Ltd is authorised and regulated by the Financial Conduct Authority 0182/12/2017/ECGwww.scruttonbland.co.uk
Made with FlippingBook flipbook maker