Most businesses will have now made their initial MTD for VAT return but there’s a contingent of deferred organisations (3.5% equivalent to 1.1 million) who will only be taking their first steps this quarter.
Those with more complex VAT needs are covered by the deferment. This includes organisations with VAT groups or divisions, that trade with the EU, are based overseas, submit annually or pay on account, that use the flat rate scheme or are newly registered for VAT. These were brought under mandated to comply with MTD for VAT from 1 October while public sector bodies that use the GIANT service have been granted a further extension.
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