We are delighted to announce that this morning HMRC have added Pandle to their list of recognised software suppliers supporting Making Tax Digital for VAT.
Now, whilst it may seem like we’re cutting things a little fine with the deadline only two weeks away, we would like to reassure users that Pandle has been fully MTD for VAT compliant for some time now.
Whilst we have been waiting for confirmation from HMRC that we had been added to their list, we have been extensively testing and improving Pandle’s MTD functionality to provide a seamless experience for users.
What does MTD for VAT mean for your business?
From 1st April onwards any VAT registered businesses in the UK, with a turnover over £85,000 per annum, will now be required to keep their records digitally and submit VAT returns online using MTD compliant software, like Pandle!
Have you signed up to Making Tax Digital for VAT yet? If not, you can do so here.
How will MTD for VAT work in Pandle?
The process for users will not change from how they would submit a normal VAT return. Pandle will now simply submit a MTD compliant VAT return through HMRC’s new MTD VAT return API. This will ensure that HMRC have all the necessary information they require for your business to stay compliant.
If users have previously registered for the pilot scheme or have chosen to sign up their business to MTD for VAT, they will first have to click the ‘Authorise MTD’ button which can be found on the VAT Returns screen.
They will then be required to sign in to their Government Gateway account to provide Pandle permission to interact with HMRC on their behalf to submit returns.
After this process has been completed submitting your MTD compliant VAT returns in Pandle will be just as easy and intuitive as submitting your existing VAT returns.
How to prepare your business for Making Tax Digital
We understand that traversing your way through the MTD minefield can be difficult to say the least, especially whilst you strive for success in your business. But fear not, we’re here to help!
We’ve pulled together a crack team of financial experts, industry insiders and creative talents to produce our Making Tax Digital Guide for Small Businesses.
This will walk you through what to expect, how to prepare your business and what the future holds for MTD.
For our Pandle Partners, don’t worry we haven’t forgotten about you. We’ve also produced a Making Tax Digital Guide for Accountants which covers how to prepare your firm, how to prepare your clients and how to make the change to MTD as smooth as possible.
If you have any questions about how Pandle can help transition your business to Making Tax Digital then please do not hesitate to ask. You can contact us by emailing firstname.lastname@example.org or by speaking to one of our friendly advisors using our live chat function.