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14 Jul 2022

The DfT's plan set out the UK’s world-leading ‘greenprint’ to create cleaner air, healthier communities and tens of thousands of new green jobs across the UK.

14 Jul 2022

The Scotland Cycle Repair Scheme works with bike shops across the country to provide free bike repair and maintenance to those who need it most right now.

7 Jul 2022

The strategy sets out objectives and an estimated almost £4bn of investment across Government through to 2025 to deliver the commitments outlined in the Prime Minister’s ‘Gear...

6 Jul 2022

Running social media competitions and Instagram giveaways are an easy way to build your audience and your engagement. But there are a few tips and tricks you need to master, as well as those...

6 Jul 2022

As e-bikes from a reputable shop can often seem overly expensive to consumers, it is also important that IBDs present them with opportunities to spread the cost, through services such as retail...

30 Jun 2022

Independents' Day weekend is taking place from 2-3 July 2022. To celebrate Maybe* have got a tailor-made competition you can share across social media to encourage your customers to shop indie....

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.

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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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