Making Tax Digital latest
HMRC have updated its guidance on the Making Tax Digital (MTD) for VAT pilot to reflect that monthly as well as annual returns can be submitted. Guidance for both businesses and agents has been published.
By way of reminder, agents are required to set up a new Agent Services Account (ASA) to represent clients for MTD. However signing up for an ASA does not mean you are signing up for MTD.
An existing client is not required to have a business tax account to be signed up to MTD by its agent. However a business tax account will be needed later to receive messages from HMRC about its VAT returns and to be able to see the returns.