Value Added Tax

Making Tax Digital ― overview

Produced by Tolley
  • 13 Apr 2022 13:10

The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Making Tax Digital ― overview
  • What is Making Tax Digital for VAT?
  • Related reading

Making Tax Digital ― overview

This guidance note provides an overview of Making Tax Digital (MTD) for VAT.

What is Making Tax Digital for VAT?

Broadly, MTD for VAT is a requirement on businesses to keep records in a digital format and file VAT returns using ‘functional compatible’ software. This software must be capable of receiving information from HMRC digitally via an ‘API’.

Key considerations associated with MTD for VAT include the following:

ConsiderationFurther guidance notes
What kinds of business / person must follow the MTD for VAT requirements and when is a person exempt?Making Tax Digital ― who do the rules apply to
How does a business or its agent sign up to MTD for VAT?Making Tax Digital ― signing up for MTD
What are the digital record keeping and VAT filing requirements under MTD for VAT?Making Tax Digital ― VAT ― returns and compliance

HMRC has published a large volume of guidance and information on MTD for VAT, including the following:

  1. Notice 700/22

  2. VAT record keeping

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