MTD Update – JVCC MTD Sub-Committee (10/12/18)

Letters to bodies with deferral will be sent in next week or two, the deferral only applies to returns for the VAT number on the letter. If you have not received a letter for an entity you think is in the deferral group in the New Year you should contact HMRC via your CCM or normal method of contacting HMRC.

Petty cash and volunteers’ expenses were discussed. HMRC are looking to give a concession in these two areas along the lines for employees’ expenses. Their concern is that any concession for petty cash will be abused so they are looking to put a limit on it. Above the limit petty cash records will need be recorded individually and uploaded (digitally linked) to VAT reports directly or indirectly. Suggestion are welcome, my personal view is about £250?

Agency Service Accounts (ASA) will be available to local authorities and similar bodies. To allow this to occur they will have to register will anti-money laundering supervisory organisation for which there will be a charged and there will be a compliance cost. All parties that do VAT returns for third parties even those wholly or partly owned by their authority will need an ASA. It will not be acceptable to use the principle body’s gateway to make return, unless the person is a member of the organisation. Further detail will be available in the New Year.

Please feedback to me any questions or views you have on the above or MDT general by e-mailing to grant_hitchman@sandwell.gov.uk , by the 4th January if possible to feed back to HMRC.

Thank you.