MTD for VAT: a change for GIANT users
Most VAT registered businesses with a taxable turnover above £85,000 need to sign up for Making Tax Digital for VAT.
Further information on MTD VAT is also available here.
To find out if and when you or your clients need to follow the rules for MTD for VAT, or apply for an exemption, click here.
HMRC VAT GIANT service
MTD for VAT services are now available to all VAT registered traders except those that use the VAT GIANT (Government Information and NHS Trust) service.
GIANT users are currently required to submit additional information with their VAT return. Due to an ongoing review by the government into VAT simplification in the public sector, announced at Spring Statement 2019, HMRC is further extending the deferral period for GIANT users beyond the October 2019 date that currently applies.
HMRC will contact each affected organisation this week to inform them of this extension and will write to them again later in the summer with further information about the timetable for joining MTD and to formally extend their deferral period.
The effect of this deferral for these customers is that they should continue to submit their VAT returns as they do now.