Is MTD Testing your patience?
MTD went “live” on the 1 April 2019 for businesses with a turnover over £85,000. Some entities (charities etc.) will have an extra 6 months to get ready. What’s clear right now is that each client has to be processed onto the new Agent services account and Government Gateway and this takes your administration time, some clients will need “bridging” software to file returns and some are still protesting about the change!
Firms should make a few last minute checks such as:
- Revisit your client list and identify those above the VAT threshold;
- Ensure that you let them know of their legal responsibility to comply by the 1 April or 1 October;
- Contacting them again if you think they may need help and to offer them a solution.
In May we will be running our tax, accounts and audit CPD regional seminars and we will be spending the mornings looking at the practicalities of MTD including problems with technology, administration and dealing with unusual or individual clients.
Please Join Rebecca Bennyworth FCA in Manchester 10.00 AM, 8th May, London on the 14th May and Martin Ingles in Birmingham on the 16th May for essential CPD.