{"id":3581,"date":"2018-11-15T16:53:35","date_gmt":"2018-11-15T16:53:35","guid":{"rendered":"https:\/\/smh.group\/?p=3581"},"modified":"2023-02-15T13:52:37","modified_gmt":"2023-02-15T13:52:37","slug":"making-tax-digital-deadline-deferred-for-certain-businesses","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/","title":{"rendered":"Making Tax Digital deadline deferred for certain businesses"},"content":{"rendered":"

The Making Tax Digital (MTD) for VAT deadline has been extended until October 2019 for certain businesses. Around 3.5% of mandated customers are affected, including VAT divisions and groups, trusts, unincorporated not-for-profit organisations and traders based overseas.<\/strong><\/p>\n

The later deadline was announced in response to concerns raised by businesses participating in the VAT pilot scheme. This will give affected businesses with more complex arrangements more time to prepare for their filing deadline.<\/p>\n

The original deadline of 1 April 2019 still applies to most businesses with a taxable turnover above the registration threshold. From next year any business filing under VAT will need to provide quarterly VAT filings to HMRC and also record transactions digitally as well.<\/p>\n

The MTD system does not change any of the filing requirements for VAT, so the same information will still need to be supplied to HMRC. However, organisations will need to use accounting software that allows them to file returns digitally. You can use spreadsheet software but you will need \u2018bridging software\u2019 to submit records to HMRC.<\/p>\n

The latest timetable for MTD is as below. With many dates left to be confirmed, and deadlines moving as close as six months before, it would be sensible to monitor developments, and how they may affect your organisation.<\/p>\n\n\n\n\n\n\n\n\n
Start date<\/strong><\/td>\nTax<\/strong><\/td>\n<\/tr>\n
Periods beginning on and after<\/p>\n

1 April 2019<\/td>\n

MTD for VAT: Filing begins for most businesses with annual turnover above the VAT threshold.<\/td>\n<\/tr>\n
Periods beginning on and after<\/p>\n

1 October 2019<\/td>\n

MTD for VAT: Filing begins for remaining complex and specialist businesses with annual turnover above the VAT threshold.<\/td>\n<\/tr>\n
April 2020 \u2013 date not confirmed<\/td>\nMTD for VAT: A possible rollout of MTD to all VAT registered businesses.<\/td>\n<\/tr>\n
April 2021 \u2013 date not confirmed<\/td>\nMTD for income tax: Filing begins for unincorporated businesses and landlords who pay income tax on profits<\/td>\n<\/tr>\n
April 2022 – date not confirmed<\/td>\nMTD for corporation tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

If you have any questions about Making Tax Digital then drop us a line on 0114 266 4432<\/strong> or info@smhca.co.uk<\/strong><\/span><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Making Tax Digital (MTD) for VAT deadline has been extended until October 2019 for certain businesses. Around 3.5% of mandated customers are affected, including VAT divisions and groups, trusts, unincorporated not-for-profit organisations and traders based overseas. The later deadline was announced in response to concerns raised by businesses participating in the VAT pilot scheme. This will give affected businesses with more complex arrangements more time to prepare for their filing deadline. The original deadline of 1 April 2019 still applies to most businesses with a taxable turnover above the registration threshold. From next year any business filing under VAT will need to provide quarterly VAT filings to HMRC and also record transactions digitally as well. The MTD system does not change any of the filing requirements for VAT, so the same information will still need to be supplied to HMRC. However, organisations will need to use accounting software that allows them to file returns digitally. You can use spreadsheet software but you will need \u2018bridging software\u2019 to submit records to HMRC. The latest timetable for MTD is as below. With many dates left to be confirmed, and deadlines moving as close as six months before, it would be sensible […]<\/p>\n","protected":false},"author":3,"featured_media":18383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3,4],"tags":[35,11,106,104,19,76],"class_list":["post-3581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smh-accounting-business-advisory","category-chartered-tax-advisers","tag-business","tag-hmrc","tag-making-tax-digital","tag-mtd","tag-tax","tag-vat"],"acf":[],"yoast_head":"\nMaking Tax Digital deadline deferred for certain businesses - SMH Group<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Making Tax Digital deadline deferred for certain businesses - SMH Group\" \/>\n<meta property=\"og:description\" content=\"The Making Tax Digital (MTD) for VAT deadline has been extended until October 2019 for certain businesses. Around 3.5% of mandated customers are affected, including VAT divisions and groups, trusts, unincorporated not-for-profit organisations and traders based overseas. The later deadline was announced in response to concerns raised by businesses participating in the VAT pilot scheme. This will give affected businesses with more complex arrangements more time to prepare for their filing deadline. The original deadline of 1 April 2019 still applies to most businesses with a taxable turnover above the registration threshold. From next year any business filing under VAT will need to provide quarterly VAT filings to HMRC and also record transactions digitally as well. The MTD system does not change any of the filing requirements for VAT, so the same information will still need to be supplied to HMRC. However, organisations will need to use accounting software that allows them to file returns digitally. You can use spreadsheet software but you will need \u2018bridging software\u2019 to submit records to HMRC. The latest timetable for MTD is as below. With many dates left to be confirmed, and deadlines moving as close as six months before, it would be sensible […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"SMH Group\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-15T16:53:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-15T13:52:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Cloud-Accounting.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1800\" \/>\n\t<meta property=\"og:image:height\" content=\"989\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jack Burnett\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Burnett\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/\"},\"author\":{\"name\":\"Jack Burnett\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/8e7b6c4e2e2a702241ea37dd75367398\"},\"headline\":\"Making Tax Digital deadline deferred for certain businesses\",\"datePublished\":\"2018-11-15T16:53:35+00:00\",\"dateModified\":\"2023-02-15T13:52:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/\"},\"wordCount\":329,\"image\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Cloud-Accounting.jpg\",\"keywords\":[\"business\",\"HMRC\",\"making tax digital\",\"MTD\",\"tax\",\"VAT\"],\"articleSection\":[\"SMH Accounting & Business Advisory\",\"SMH Chartered Tax Advisers\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/making-tax-digital-deadline-deferred-for-certain-businesses\/\",\"name\":\"Making Tax Digital deadline deferred for certain businesses - 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