Non-compliance with MTD for VAT
Since its introduction in April 2019 there is still a number of businesses that have failed to sign up, estimated at 16% of those required to do so. The main barrier seemed to be a lack of knowledge, skills and information. HMRC has started to write again to these businesses requesting them to comply. Businesses surveyed confused the meaning of “digital” and “digital links” and assuming “online” meant MTD, and making the incorrect assumption that they were compliant because they file their VAT online through the HMRC portal. The perceived time and cost involved in becoming compliant with MTD was also a barrier for some.
Acer accounts is available for businesses needing advice and information on supporting MTD for VAT.