The requirement for digital links within MTD for VAT software starts in April 2021, following the end of the soft-landing period. ICAEW’s Tax Faculty is urging HMRC to provide more guidance and is asking for examples of difficulties faced in implementing the requirement.
The basic rule is that it is unacceptable to transfer data manually within or between different parts of a set of software programs, products or applications that make up functional, MTD-compatible software.
Source: icaew.com
Latest Posts in "United Kingdom"
- Boehringer Ruling: Could £2.5bn VAT Reclaims Transform UK Pharma and Healthcare Forever?
- VAT Recovery Possible Without Fully Compliant Invoices if Alternative Evidence Provided, UK Tribunal Rules
- UK Tribunal Denies VAT Deductions for Construction Firm Linked to Payroll Fraud
- Restaurant Operator and Director Liable for £280,903 VAT Evasion After Tribunal Rejects Defense
- Upper Tribunal Rules Hair Loss System for Severe Baldness Qualifies for VAT Zero Rating
