For a large number of organisations the answer will be yes, unless you are eligible for the deferral or are voluntarily registered for VAT. If this is the case HMRC will have written to you to confirm if you are deferred or exempt from the new rules. Therefore, you should prepare now for the MTD rules if you have not received a letter.
You will need to submit your VAT return digitally using MTD compatible software before the deadline of Wednesday 7 August 2019 if your latest VAT return period ended on Sunday 30 June 2019. Before you can do this, you will need to sign up for the new Digital Services Account (DSA) in order to activate your MTD account. This can take up to three days for HMRC to approve, so do not delay in setting this up.
We are offering an MTD set-up service if you need any assistance in signing up for the new account. Please contact us for more information.
You will need to confirm that you have MTD compatible software in place during the DSA set up. HMRC has collated a list of MTD approved suppliers. We recommend that you set up software now, and identify and resolve any potential issues before you are required to submit.
Once the DSA has been activated, you will need to link it to your MTD software, whether this be your own accounts system or third party bridging programs.
We can assist with the digital submission of your VAT return if you do not have your MTD bridging software in place or are not sure which provider to use. Please contact us for more information.