Making Tax Digital: Deadline for Direct Debit Payments
Making Tax Digital for VAT began on 1st April 2019. Most VAT registered businesses are affected and must keep digital records and file their VAT returns using HMRC-recognised software.
For those businesses which have a quarterly VAT period starting on April 1st, the first deadline for filing VAT returns under MTD will be 7th August 2019.
As Direct debits need to be set up in advance, businesses paying VAT by direct debit need to be signed up to HMRC by at least 29th July 2019.
With that date fast approaching, make sure that you are MTD ready in plenty of time.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.