As you know, from April 2019, all VAT return data must be filed and provided to HMRC digitally as part of the Making Tax Digital initiative. Are you ready? Do you know what’s truth and what’s myth concerning the new VAT process?
As we head closer to the April 2019 VAT deadline, information about MTD is coming out from all angles. Simply put, when Making Tax Digital (MTD) states that VAT return data must be kept and filed digitally, it means this: the software businesses use must be capable of providing information to HMRC and receiving information from HMRC digitally via their Application Programming Interface (API) platforms.
However there is increasing concern from firms that they won’t be able to make the transition to the fully ‘digital’ software environment demanded by compliance in time for the deadline. While most firms file online, the software journey taken to reach data entry into HMRC’s online portal often involves a self-selected set of support tools frequently featuring spreadsheets, the use of which has been highly debated as MTD compliance legislation has been released.
So how do you know what is the confirmed truth or hearsay about the new VAT process? Join this webinar hosted by Phil Thornton, Senior Product Manager at Wolters Kluwer who will bust all the myths around MTD and the new VAT regulations that will come into effect this April 2019.
In this webinar you will hear:
- Our explanation of the new HMRC VAT Notice 700/22
- Practical advice and guidance of how this will impact you and your clients
- How our VAT solution provides a painless transition to the new regime