Last Friday (13th July) HMRC released further information on the UK’s Making Tax Digital for VAT initiative:
VAT Notice 700/22: Making Tax Digital for VAT
There are further examples of where a ‘digital link’ is required – giving different scenarios and what is required.
Software suppliers supporting Making Tax Digital for VAT
More than 130 software suppliers have told HMRC that they’re interested in providing software for Making Tax Digital for VAT. Over 35 of these have said they’ll have software ready during the first phase of the pilot in which HMRC is testing the service with small numbers of invited businesses and agents.
If you would like to have a meeting or a call with us to discuss future MTD requirements or to review your existing processes, systems and adjustments please let me know and I will set something up. We can discuss your current status and assist with the next steps for getting ready for MTD.