MTD for VAT roadmap
Making Tax Digital deadlines for VAT are the same as standard VAT returns, so you don’t have to change the dates that you usually file and pay your taxes.
This means businesses must file their first MTD return for the VAT quarter starting on or after 1 April 2022. But remember, businesses cannot sign up to MTD for VAT until after they have filed their last standard VAT return.
Bear in mind that:
- If you pay by direct debit, HMRC states that you should not sign up until 5 working days after the deadline of your last non-MTD return or at least 7 days before your return is due.
- Your first MTD return cannot be filed earlier than 7 working days before its deadline.
- Businesses paying via other methods must wait for 24 hours after their last non-MTD return has been submitted to sign up. They cannot file their first MTD return until 72 hours after the signup process. You should also ensure that you sign up at least 3 days before your return is due.
The schedule below shows the dates that MTD VAT returns must be filed by and when the payments need to be made to HMRC:
- Businesses with a VAT period ending 31 March 2022 must file their first MTD return for the quarter starting 1 April 2022. The filing and payment due date of this return is August 7 2022.
- Businesses with a VAT period ending 30 April 2022 must file their first MTD return for the quarter starting 1 May 2022. The filing and payment due date of this return is September 7 2022.
- Businesses with a VAT period ending 31 May 2022 must file their first MTD return for the quarter starting 1 June 2022. The filing and payment due date of this return is October 7 2022.
If you are unsure of the date your first MTD return is due, check the filing deadline in the VAT account section on HMRC’s website or contact your accountant if they file returns on your behalf.
Making Tax Digital for small businesses
Our comprehensive guide covers everything you need to know about Making Tax Digital (MTD) for VAT as a small business owner.
- Introduction to Making Tax Digital
- A closer look at MTD for VAT requirements
- How to sign up to MTD for VAT
- MTD for VAT: key dates for your business
- Making Tax Digital exemptions
- Making Tax Digital penalties
- Choosing the right MTD software for your business
- A closer look at MTD bridging software
- Using Xero’s MTD software