Firstly, I recommend that your Accountant signs you up, we will sign up our clients who are above the threshold to avoid potential problems.
Many businesses have found the process confusing because
• They were in the Pilot
• They didn’t realise they needed to register
• They thought the software would do the registration
The best time to register is after you have filed your last pre-MTD VAT return and made payment or had a refund and at least 7 days before the end of the next VAT period.
The reason why this is important is that HMRC need time to switch businesses from old gateway to the new MTD system.
We have had spoken to businesses who registered at the wrong time and found that they either can’t submit returns or Direct Debits or repayments have been delayed causing significant cash flow problems particularly for businesses expecting six figure refunds.
It is important to register for MTD and then register your software.
Why not come to a UK Training Seminar to find out more information on MTD https://www.uktraining.com/training/making-tax-digital/116
