HMRC invites businesses to take part in Making Tax Digital for VAT pilot scheme
HMRC has urged accountancy bodies to help it enlist willing businesses to take part in an upcoming Making Tax Digital for VAT (MTD for VAT) pilot scheme.
The live pilot will begin in April 2018, and participating businesses will be given the opportunity to submit VAT returns using the new digital system.
HMRC stated that it intends to monitor the progress of the VAT returns in order to ensure that the system works as it should.
It also stressed that firms will only be required to submit their VAT returns using the new system, and that businesses will have access to ‘plenty of help’ if it is needed. HMRC also said that any monitoring carried out will be for ‘testing purposes only’, and there will be no additional compliance checks.
In addition, it outlined a range of ‘benefits of taking part’ in the pilot, including ‘getting ahead of the game’, and having the opportunity to influence how the system looks and feels.
A spokesperson for HMRC stated: ‘We have been working with stakeholders throughout the development of Making Tax Digital and a number of professional bodies have approached their members to encourage them to participate in the live pilot, starting in the Spring.
‘This pilot will be widened over the coming months as further functionality is added.’
Businesses keen to take part in the live pilot are urged to contact HMRC via firstname.lastname@example.org.