Readers are reminded that Making Tax Digital for VAT is mandatory from 1 April 2022 for VAT registered businesses with turnover below the £85,000 VAT registration threshold. Note that at present HMRC has no plans to introduce a soft landing for the digital links aspect of MTD for VAT for these businesses. The Institute is discussing this with HMRC. HMRC has also recently updated the list of software currently available for MTD for income tax self-assessment (“ITSA”) which commences in April 2024. This page was updated on Friday, 25 February 2022 to show details of the MTD for ITSA compatible software products that are available. The changes include updating the list of software products that are ‘available now’, which are those that have been actively tested with live taxpayers and met HMRC’s minimum functional specification. The page will also list 15 new products, not previously shown on the page, that are in the late stages of development. These ‘in development’ software products are ready and will shortly start to be tested with live taxpayers. Once that final taxpayer testing has been performed, they will then be moved to the ‘available now’ section. HMRC continues to work closely with software developers to support them in developing a range of software products to satisfy demand within MTD for ITSA. Regular updates will be made to this page as new products become available.   HMRC is also working on delivery of a new dynamic software tool which is due later in the year. This will provide a more interactive experience for taxpayers to view possible software options and find the one that is most suitable for them. 

Check out the latest items on the Agent Forum. Remember, to view each item, you must be signed up and logged in. All agents, who are a member of a professional body, are invited to join HMRC’s Agent Forum. This dedicated Agent Forum is hosted in a private area within the HMRC’s Online Taxpayer Forum. You can interact with other agents and HMRC experts to discuss topical issues and processes. HMRC’s latest update on the agent forum is also available.  

HMRC’s latest schedule of webinars is now available for booking. Spaces are limited, so take a look now and save your place. If you have any questions, please send them to team.agentengagement@hmrc.gov.uk prior to the webinar, including the title of the webinar in the ‘Subject’ line of your email. HMRC will answer as many as possible on the day. COVID-19 statutory sick pay rebate scheme 2: register here   This webinar will examine payments to employees who are off sick or self-isolating because of COVID-19 on or after 21 December 2021 and what employers can claim under the scheme. Declaring your grants on your Company Tax Return (CT600): register here   This webinar provides an overview of how to report coronavirus support payments and grants on a company tax return, what happens if you’ve claimed too much and records you need to keep. Making Tax Digital for VAT: register here  This webinar will provide some of the basics of Making Tax Digital for VAT. This will include what’s changing, using software and keeping digital records, plus an introduction to penalty reform. From April 2022, these requirements will apply to all VAT-registered businesses, to include those that have a turnover below the VAT threshold.