Making Tax Digital Services

Modernise and simplify your business’s taxes with our digital tax returns services. Make them simpler, more accurate, more secure and more efficient.

Currently, businesses above the VAT threshold of £85,000 are required to comply with Making Tax Digital for VAT (MTD for VAT).

From April 2022, the Making Tax Digital initiative will be extended to all VAT-registered businesses including those with turnover below the VAT threshold. From April 2023 Making Tax Digital will apply to all taxpayers who file income tax self-assessment tax returns for business or property income over £10,000 annually.

If you’re a VAT-registered business, don’t wait until next year to submit digital returns. Start the transition to fully digital tax returns today with the help of Levicks. We can help to implement new digital tax software and make the entire process smoother.

How Making Tax Digital VAT Works

VAT registered businesses with turnover over the VAT registration threshold will be required to submit their VAT return digitally using Making Tax Digital software. Businesses with a turnover above the VAT threshold (currently £85,000) will have to:

• keep their records digitally (for VAT purposes only) and
• provide their VAT return information to HMRC through Making Tax Digital (MTD) functional compatible software.

This software will either be a software program or set of compatible software programs which can connect to HMRC systems via an Application Programming Interface (API). The functions of the compatible software include:

• preserving digital records in the specified making tax digital form
• creating a VAT return from the digital records and providing HMRC with this information digitally
• providing HMRC with VAT data on a voluntary basis and receiving information from HMRC via the API platform that the business has complied.
• Businesses will need to preserve digital records in the software for up to six years.

Get Your Free Making Tax Digital Consultation Today – Helping Businesses Grow Since 1862

Since 1862, Levicks have been helping businesses to prosper and grow. With offices in Broadstairs, Canterbury and Maidstone we support clients not only in South-east England and London, but also further afield from Cornwall to Scotland, across Europe and the wider world.

Our aim is to provide a high level of service to a small number of clients. This will ensure our clients receive our full attention. We are also able to answer their questions quickly and comprehensively.