MTD Software – Is your current provider prepared?

If your business is VAT registered and has a turnover above £85k, from April 2019 you will no longer be able to submit your VAT return online – you will need to do this with compliant software that works with HMRC’s new Making Tax Digital system. Do you know if your existing software will work next year when you need to complete your VAT return?

In HMRC’s latest update they have said that over 130 software providers indicated that they are interested in providing software for Making Tax Digital for VAT. Over 35 of these have said their software will be ready during the first phase of the pilot in which HMRC is testing the service with small numbers of invited businesses and agents. The pilot will be opened up to allow more businesses and agents to join later this year.

The following 18 software suppliers have both:

  • tested their products in HMRC’s test environment
  • already demonstrated a prototype of their software to HMRC

If your business is not using one of the above software packages, we are advising that you contact your existing provider to check on their plans for being MTD compliant, the timing, training and costs for the new software.

Howard Worth has been preparing for the implementation of Making Tax Digital for some time now and is working with a number of the software providers above. If you have any questions regarding your current software and its compatibility, please contact Howard Worth for further advice.