Making Tax Digital for VAT becomes mandatory for all VAT registered businesses from 1 April 2022

Businesses with a taxable turnover above £85,000 have already been required to follow Making Tax Digital, keeping digital records and filing VAT returns using compatible software since April 2019.

From 1 April 2022, all VAT registered businesses must file digitally through Making Tax Digital from 1 April 2022, regardless of turnover.

We can sign you up to Making Tax Digital, although you will be responsible for meeting your VAT obligations. Those who do not join Making Tax Digital for VAT may be charged a penalty for failure to do so.

If your business has not signed up to Making Tax Digital compatible bookkeeping software then please talk to us urgently about how we can help your business comply with the new law.

How BM Connect can help you and your business

Growing businesses often don’t have the time or resource to set up a full accounting function within the business. That’s why, at BM Connect, a Beavis Morgan group business, we offer integrated, flexible and affordable outsourced bookkeeping, accounting and payroll solutions.

Our advanced tech-enabled outsourced services, giving you real-time visibility into your business and delivering value cost-effectively and efficiently.

We will also help you navigate any potential pitfalls and ensure all your accounting, financial and bookkeeping needs are managed from one place, so you don’t have to worry about acting as the go-between for your accountant and bookkeeper.

• You will never need to worry about missing a VAT deadline, or the complexities of running payroll.
• You will have access to accurate, reliable and timely financial information when you need it, whether that be profit or cash focused, or both, to accurately and effectively manage the company’s finances and drive growth.
• Our business experts will work with you to identify your requirements and then design and implement a system that will provide all the information you need, within a cost effective and efficient framework.

In turn, if you have any concerns regarding your tax return or other related matters, our experts at Beavis Morgan are available to assist. We take the hassle of dealing with HMRC away from you, so you don’t need to deal directly with them.

Contact Mariske Byrnes at BM Connect or your usual BM Connect adviser for further information and assistance.