ICAEW publishes MTD for VAT guidance on engagement letters
ICAEW’s Technical Advisory Service has developed helpsheets to assist members amend or issue a new engagement letter for use when MTD for VAT is applicable.
The engagement letter helpsheet has been updated to reflect the requirements of MTD.
The updates include:
- A new schedule reflecting the requirements of for MTD for VAT to be used as part of an engagement letter.
- To support the update of an existing engagement letter, a sample Engagement Letter amendment for MTD for VAT.
From April 2019, Making Tax Digital for VAT (MTD for VAT) requirements will apply to those VAT registered businesses and organisations with taxable turnover above the VAT threshold of £85,000 unless they are exempt or have been deferred to October 2019. You can find out more about MTD on our dedicated hub page.
We expect future updates to these schedules as our understanding of the requirements of MTD for VAT develops. The impact of changes to leaving the EU may also result in future changes. Stay connected with the latest Tax News and information on the MTD hub.
The helpsheet is available to logged in members, affiliates, and staff in eligible firms that have registered for member firm access.
This group can also receive support on MTD for VAT and engagement letters from Technical Advisory Services on +44 (0)1908 248 250.