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How to switch on MTD?

For businesses that are required to follow HMRC’s Making Tax Digital (MTD) for VAT notice from 1st April 2019, we have prepared the following guidance to help you with the sign up process.

STEP 1…

The first step is to ensure you sign up for Making Tax Digital with HMRC. However before you do this it is important to get the timing right so please ensure each of the four points below are done before beginning the sign up process:

Identify what your first MTD VAT Return will be. (If you are unsure, please check our diagram here)

 

Make sure you have filed your final non-MTD VAT Return with HMRC

 

Make sure you are using (or now have in place) an MTD compatible software or have a bridging tool set up to file your VAT Returns

 

If you pay your VAT by Direct Debit, make sure it has been at least 5 working days since your last VAT Return was due for filing. This is to avoid complications with the direct debit transferring over to your Making Tax Digital HMRC account

STEP 2…

If all the above points have been covered you are now ready to sign up for Making Tax Digital with HMRC here: https://www.gov.uk/guidance/sign-up-for-making-tax-digital-for-vat

NB: You will need

  • your HMRC government gateway user ID and password
  • the UTR (unique taxpayer reference) number of the business
  • your company number (if applicable)
  • In addition we would advise that you have a copy of your VAT registration certificate to hand which can be found on your current HMRC government gateway account

Once you have completed the step by step process, HMRC will email you to confirm the process has been completed and you are signed up for Making Tax Digital. (We recommend that you complete the HMRC sign up process at least 7 workings days before the filing deadline of your first MTD VAT Return. This is to avoid any potential issues or delays with HMRC confirming your account has been set up successfully.)

Once signed up for MTD with HMRC, do not submit any further VAT Returns by logging in to your HMRC government gateway account as HMRC will not receive this submission. All future VAT Returns must now be submitted to HMRC directly via your MTD compatible software.

Hurray, you’re all signed up, so now just one final step…

STEP 3…

How to turn on Making Tax Digital in your relevant software…

Here are some tips for doing this in the most popular software providers:

If you use another accounting software or need any further guidance in relation to any of the information provided above, please speak to your usual Dodd & Co contact or one our Cloud Accounting Team. Alternatively you could contact your software provider directly.

Click here to visit our MTD & Cloud information page

 

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