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30 Jun 2022

The majority of victims of cyber crime are Small to Medium Enterprises. Ransomware attacks, fund transfer fraud, phishing, vishing and social engineering are all made far easier with employees...

29 Jun 2022

This time of year offers a great opportunity to find and recruit new apprentices, as there’s a large influx of school and college leavers looking for their next step.

28 Jun 2022

Chris Boardman named permanent National Active Travel Commissioner alongside other senior Active Travel England appointments

23 Jun 2022

Retail Finance Training (RFT) is an online learning course delivering an informed insight into Retail finance that can be completed anywhere, in your own time.

23 Jun 2022

The first ever National Cycling Show took place at the NEC, Birmingham over the weekend, with over 100 brands exhibiting including...

23 Jun 2022

With this summer and for Independents Day, especially after the last few years, it is crucial that businesses can make the most of the increased footfall of physical shoppers.

23 Jun 2022

Every month Maybe* gives one of our clients £500 to spend on social media advertising. To enter all you need to do is watch the Maybe* training videos or attend their webinars.

20 Jun 2022

The strategy outlines how the government will work with trade unions and businesses to regenerate retail and build a sustainable Wales.

16 Jun 2022

At the show Cytech will be delivering bike maintenance sessions on the Cycling 101 Stage with their training provider, Spokes People (formerly PJCS), as well as offering The Bike Clinic on stand...

16 Jun 2022

The ACT would like to make it clear at present we are not working with any card processing provider, so please ignore any that claim to be working with the ACT. In other...

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Making Tax Digital: Changes from 1st April 2022

Posted on in Cycles News , Creative News

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 submission via Making Tax Digital until Summer 2022. All VAT returns must be made via compatible accounting software.

The Government have published new guidance from 1st April 2022 for businesses to understand when to start using Making Tax Digital for VAT if they haven't before.

View the Government guidance here

From 1st April 2022 all VAT registered businesses must sign up for Making Tax Digital, no matter how much they earn unless you apply for an exemption.

 

What do I need to register?

To register for Making Tax Digital you need:

  • your business email address
  • a Government Gateway user ID and password - if you do not have a user ID, you can create one when you use the service
  • your VAT registration number and latest VAT return

You’ll also need:

  • your National Insurance number if you’re a sole trader
  • your company registration number and Unique Taxpayer Reference if you’re a limited company or registered society
  • your Unique Taxpayer Reference and the postcode where you’re registered for Self Assessment if you’re a general partnership
  • your Unique Taxpayer Reference, the postcode where you’re registered for Self Assessment and your company’s registration number if you’re a limited partnership

Where can I get more help and guidance on Making Tax Digital?

For more information, HMRC is running live webinars – during which you can ask questions using the on-screen text box.

These webinars provide an overview of MTD, including digital record keeping, compatible software, how to sign up and submit VAT returns directly from the business. 

Register here

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