There are just five months left for finance professionals and businesses to get ready for the introduction of Making Tax Digital for VAT (MTDfV).
In response to questions from bookkeepers and accounting professionals, AAT has prepared a special ebook and software review, which is now available to download.
One of the most common questions from finance professionals is, what will the new software and processes be like? To help provide answers, we have explored many of the products from MTD-compliant manufacturers, including bridging solutions. View the software review in the guide.
Many businesses and non-profits have not yet heard of Making Tax Digital for VAT, and are unaware that anything is changing. A recent survey of AAT members estimated that only 50% of customers will be fully ready by the time MTDfV is introduced on 1 April 2019.
Good planning and helpful messaging can improve this situation. That’s why we have a section on how you can prepare your clients.
The theory is all very well, but the reality is what matters.
What will it be like to go digital? And how easy will it be to file VAT returns? We’ve been finding out by talking to finance professionals who have been involved in HMRC’s MTD pilot scheme. You can read experiences of MTD from accounting professionals in the ebook.
What is the best way to become compliant? The answer depends on the circumstances. Inevitably some will be late to the party and will need an easy and convenient way to get up to speed. For others, this is the time to plan for the future and start the transition to becoming fully digital.
We hope you enjoy the free guide, follow up content and resources that we will be making available. Please download your copy using the button below.
One final request, please share this resource with anyone you feel would benefit from it, including non-members.
David Nunn is Content Manager at AAT.