HMRC have said that a few businesses could qualify for an extension to their Making Tax Digital (MTD) for VAT soft landing period. Under current rules for VAT everything must be done digitally including transfers, exchanging data between software programs, and products or applications.

However, the government introduced a one year long ‘soft landing period’, to help businesses to get the digital links in place. This period begins on or after 1 April 2020, or 1 October 2020 for deferred businesses.

HMRC announced on 17 October that some businesses could qualify for an extension to this soft-landing period. The extension is available for businesses with complex or legacy IT systems that require a longer period to put digital links in place. To apply for this extension you will need to email [email protected] to request an application form.

The reason why this extension is being offered is because businesses and professional bodies has outlined difficulties some will face in getting digital links in place in time.

How can we help

At Hawsons we have a dedicated team of tax and VAT accountants at our offices in Sheffield, Doncaster, and Northampton. With our vast experience we can give you the best tax and VAT advice for you. We believe in a long-term client relationship this is why we offer all new clients a free initial meeting so we can get to know and your business. If you would like to book your first free initial meeting click here.

If you would like to find out more about Hawsons Chartered Accountants click here.

 

More from our tax experts

You can find all of our latest tax articles and tax resources here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

Paul Wormald

Partner, Doncaster

01302 367 262

[email protected]

Tony Nickson

VAT Consultant, Sheffield

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