HMRC has announced that you’ll no longer be able to use your existing VAT online account to file quarterly and monthly VAT returns. The current HMRC online portal is closing on 1 November 2022. After this date, all VAT returns will need to be filed through digital compatible software to stay compliant and avoid potential penalties in the future.
Please note, if you file VAT annually, you’ll still be able to use your VAT online account until 15 May 2023.
Why is HMRC closing the existing online portal?
This closure of the online portal is a key milestone in HMRC’s transition to Making Tax Digital (MTD). HMRC will no longer be accepting manual input of dates into the online portal, meaning all VAT returns will need to be filed through MTD compatible software.
What does this mean for you?
VAT-registered businesses need to sign up for Making Tax Digital using MTD-compatible software to submit VAT and maintain digital records.
How can we help?
We can help support you in finding the right MTD compatible software. Give our team a call today to book a telephone consultancy – 0114 453 4572