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9 May 2023

The European retail sector has enjoyed its best month for international spending on Tax Free goods since the end of the pandemic after sales surged by 40% month on month in March 2023, taking...

4 May 2023

A study into the positive health effects of riding an electric bike has picked up traction in Germany’s press in the past week, according to a piece in Cycling Electric. Researchers at the...

4 May 2023

Two Derby businessmen have come together to encourage locals to hop on their bikes. Dean Jackson and Paul Martin have launched the city's first road racing team to help inspire...

4 May 2023

More people than ever are regularly walking or cycling rather than using the car due to increases in the cost of living.

4 May 2023

Sustrans, the charity that aims to make it easier for everyone to walk, wheel and cycle whether to get to work, to go shopping, to get about their neighbourhood or to just have fun, is calling...

20 Apr 2023

Cytech will be exhibiting at the show on all days on stand G670

18 Apr 2023

A study into the positive health effects of riding an electric bike has picked up traction in Germany’s press in the past week, according to a piece in Cycling Electric. Researchers at the...

18 Apr 2023

With the weather (hopefully) improving and the drive towards more active pathways gaining momentum, there is likely to be a renewed focus on cycle-to-work schemes as an attractive way to finance...

17 Apr 2023

Cytech are attending the Cycle Show and will be demonstrating key practices in bike maintenance that are useful for both the trade and public.

12 Apr 2023

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, will be joined by training providers Activate Cycle Academy and Spokes People when the...

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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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