At the staging date advised to by the HMRC (either the first VAT period on or after 1st April 2019, or 1st October 2019), VAT-registered businesses in the UK will need to submit their VAT returns using functional compatible software, as part of HMRC’s Making Tax Digital (MTD) plans.
We are working hard with all our customers to provide either an upgrade or to provide software from Sage for compliance with Making Tax Digital. This is a new way of submitting your VAT returns using HMRC approved, API compatible software, also taking into account digital links so that the “chain of custody” of accounting data is preserved.
You may have already received a letter from the HMRC about what the public beta phase of the Making Tax Digital VAT pilot is. If you have, you’re not alone. Approximately 200,000 HMRC Making Tax Digital letters are being issued to businesses and more will be going out soon to let them know about the new service. Therefore if your business hasn’t received a letter yet, that’s not to say it won’t. Read more here about HMRC Making Tax Digital Letters.