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HM Revenue and Customs (HMRC) VAT online account

17/04/2019 07:14:12
Hello,
I normally submit my VAT returns via the 'HM Revenue and Customs (HMRC) online account ' do I have to purchase new software to submit the VAT returns or can I still use the HMRC online account?

Thank you.
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HM Revenue and Customs (HMRC) VAT online account

17/04/2019 07:55:28
If it's compulsory for you to sign up for MTD then yes, you will need to either purchase bookkeeping software OR use bridging software to submit your figures to HMRC. You won't be able to use the current online portal once you've signed up.
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Re:HM Revenue and Customs (HMRC) VAT online account

17/04/2019 08:27:59
Hi,

You are only required to sign up for MTD if you are trading over the threshold, if not then you can continue to submit via your Business tax Account as normal.

If you are required to sign up for MTD then yes you will be required to submit via software.

VAT Notice 700/22: Making Tax Digital for VAT
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Re:HM Revenue and Customs (HMRC) VAT online account

30/04/2019 14:18:34
Hi,
I registered for VAT last financial year and paid VAT as well as charging to clients.
however I fell short of the £85,000 turnover threshold.
What are the implications of this?
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Re:HM Revenue and Customs (HMRC) VAT online account

01/05/2019 07:39:31
Hi Andy,

Thanks for your question.

You may remain VAT registered as long as you are making taxable supplies even if you are trading below the registration threshold.

However, if you are below the deregistration threshold of £83,000 and think you will stay at that level then you can also look into cancelling the VAT number.

The guidance on how to cancel your VAT number can be found in VAT Notice 700/11.

VAT Notice 700/11: cancelling your registration

I hope this helps.
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HM Revenue and Customs (HMRC) VAT online account

01/05/2019 07:52:04
Hi Andy

It means that you do not have to register for MTD compulsorily unless you exceed the threshold. You can stay registered for several reasons eg it is worth it cashflow wise as a lot of your expenses carry VAT or you want to portray your business as big and successful to potential customers.

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