I use a paper based system to record my business records. How can I comply with Making Tax Digital?
If you use a paper based system to record your business records and you are a VAT registered business with a taxable turnover greater than £85,000, you will need to start using a digital system to comply with HMRC's Making Tax Digital (MTD) for VAT.
The MTD for VAT scheme that was introduced on 1 April 2019, insists that all business records are recorded digitally and that VAT returns are submitted to HMRC using approved and compliant software. This means paper filing is no longer permissible no matter if it is a system you have relied on for decades!
One of the easiest and most cost effective ways to comply with Making Tax Digital for VAT is to start using a spreadsheet such as Excel to record your business figures. With a little knowledge, you can replicate your paper filing system with ease then use MTD for VAT compliant software - known as bridging software - to digitally submit your VAT returns to HMRC.
Easy MTD VAT is one such bridging software solution that is compliant with MTD for VAT and compatible with Excel. It sits between your Excel spreadsheet and HMRC and allows VAT returns to be submitted digitally from as little as £0.99. It can also be used to view VAT obligations, liabilities and payments for free and is so simple to use, you'll be MTD for VAT compliant in minutes.
Download and try Easy MTD VAT now and start submitting your VAT returns to HMRC today.