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14 Apr 2022

Cytech are attending the Cycle Show and will be demonstrating key practices...

7 Apr 2022

The Retailer Promotional Pack provides retailers with an easy-to-use resource to spread the word about Local Bike Shop Day 2022 and fully benefit from it as much as possible.

6 Apr 2022

To celebrate Local Bike Shop Day, taking place on Saturday 30th April, Freewheel are offering customers 15% off...

6 Apr 2022

Businesses are required to have signed up to Making Tax Digital ready for their first VAT return starting on or after 1 April 2022. However, they may not be required to make their first...

6 Apr 2022

According to Cycling UK, business booms by 30% when people cycle to the high street. But they need somewhere to park. You can attract cyclists directly to your door by offering secure bike...

31 Mar 2022

Each week Maybe* round up the best social media posts from across the UK. See who's coming...

31 Mar 2022

Cytech is going from strength to strength with an ever-increasing number of expansions both in the UK and abroad. 2020-21 were exceptional years with 3 locations opening, and now with the new...

24 Mar 2022

Retailers have until 1st April to sign up on the Local Bike Shop Day website and receive a physical pack in the post to help them promote their business on the day and drive footfall into their...

24 Mar 2022

As online and digital payments have continued to grow in popularity over the past few years, unfortunately so does the risk of fraud. SCA intends to combat this risk by providing a more secure...

24 Mar 2022

Shop owners can now experience the full capabilities of Hubtiger without having to connect to a POS system.

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Get Prepared for Making Tax Digital for VAT

Posted on in Business News , Cycles News , Creative News

There is now less than three months until all VAT-registered retailers are required to submit quarterly VAT updates and annual returns via the government's Making Tax Digital (MTD) system.

MTD is designed to help businesses eliminate common reporting errors and save time spent managing tax affairs. Most retailers will already be using MTD following trial phases and requirements based on business turnover from 2019.

MTD for Income-Tax Self Assessment will be introduced in April 2024 with MTD for Corporation Tax expected from 2026 at the earliest. HMRC guidance on MTD for VAT and finding compatible software is available here.

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