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<p>There is no evidence to suggest that businesses have either ceased trading or reduced
their turnover to below the VAT threshold due to Making Tax Digital (MTD) for VAT.</p><p>Following
the successful introduction of MTD for VAT-registered businesses with taxable turnover
above the VAT threshold in April 2019, the Government has extended MTD for VAT to
all other VAT-registered businesses from April 2022.</p><p>Independent research shows
that businesses using MTD-compliant software for their VAT obligations are realising
efficiency benefits and the resulting reduction in errors is leading to additional
tax revenue.</p>
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