Interesting VAT is an online VAT submission tool, recognised by the HMRC as meeting the requirements of the UK's Making Tax Digital scheme.
It is aimed at VAT registered companies who already have a digital record of their VAT transactions, but who use software that doesn't submit VAT returns automatically.
Interesting VAT is a low-cost low-hassle solution to submit the VAT returns your existing systems produce. It is accessed via a web browser, with no need to install new software, and costs £25 ex VAT per year per VAT number.
The system allows you to:
• Submit VAT Returns
• View VAT Returns
• View VAT Liabilities
• View VAT Payments
HMRC Maintenance and Availability
Scheduled maintenance to the Making Tax Digital (MTD) VAT service will take place between Nov 14th, 16:30 to 17:00 Nov 16th.
The UK has now entered a transition period until the end of December. The government has announced its future plans for introducing postponed VAT accounting (PVA).
Please see section 1.60 and 2.38 within the Budget 2020 publication for details.
HMRC have informed us that:
• There will be no immediate changes to the boxes on the VAT return at the end of the transition period.
• There may be changes to what needs to be entered into the VAT return once PVA is introduced.