I’m delighted to let you know that we’ve taken our next major step in our mission to help small business owners navigate the UK’s forthcoming Making Tax Digital (MTD) legislation.
FreeAgent is already one of the suppliers on HMRC’s list of software ready to support MTD for VAT and now we’re also among the first handful of providers taking part in HMRC’s public pilot for MTD for VAT.
The new legislation will require VAT-registered businesses with a turnover of £85,000 or more to keep digital tax records and make submissions to HMRC using software from next April.
We’ve been working closely with HMRC to ensure we provide the best possible experience for customers who will be submitting VAT returns under MTD once the legislation comes into effect. If you're a FreeAgent customer, you’ll get a notification in our software to let you know the best time to sign up to HMRC's public pilot. If you're not using FreeAgent yet, why not take out a 30-day free trial and get MTD ready?
Still unsure what MTD means for you and your business? Don’t worry! We’ve created a library of helpful articles and resources about the legislation and how it could affect you - check it out here.