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17 Jan 2025

The ACT has teamed up with employment law, HR, and health and safety experts WorkNest as the association's new legal partner.

10 Jan 2025

The ACT have presented a formal complaint to the BBC, with Director Jonathan Harrison claiming the program was misrepresentative and made "incorrect claims about regulations".

9 Jan 2025

ACT parent company Bira has warned that disappointing footfall figures for December show mounting pressures on independent retailers, with concerning implications for 2025 as business costs...

18 Dec 2024

Director of the ACT Jonathan Harrison has praised the "resilience and adaptability" of the ACT and its members in an end of year message.

17 Dec 2024

UK bicycle retailers are set to benefit from a groundbreaking partnership between the ACT and Bikmo Cycle Insurance, offering a new revenue stream and competitive edge in the increasingly...

16 Dec 2024

Transport for London (TfL) has launched a new policy aimed at tackling the issue of irresponsible dockless e-bike and e-scooter parking across designated areas of London.

13 Dec 2024

The Government has published new statutory guidelines to help businesses produce and distribute safe e-bike batteries and reduce the risk of unsafe products being sold online or as part of a...

5 Dec 2024

A former British cyclist, a host of CEOs and industry leaders are sharing their thoughts on the future of the cycling industry as part of a revealing new series launched by the Ride to Success...

4 Dec 2024

As credit card fraud becomes increasingly sophisticated, taking these steps could help you stay ahead of the fraudsters…

29 Nov 2024

Scottish independent retailers, including those in the cycling sector, are urging the Scottish Government to provide crucial business rates relief in its upcoming budget, as the disparity in...

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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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