From April or October 2019, UK businesses with a turnover over the VAT threshold (£85,000+) will have to comply with the HMRC’s new Making Tax Digital initiative.
While the regulations come into force in 2019, businesses will be able to take advantage of a ‘soft landing period’ for the first 12 months to allow them time to ensure they are able to integrate all the necessary software.
During this period, HMRC will accept organisations using ‘copy and paste’ as a form of a digital link to send their VAT returns.
By April/October 2020 though, businesses must ensure they have all the necessary digital links in place to send their VAT returns.
Our Making Tax Digital solution for Unit4 Business World (Agresso) has been designed to fully comply with the HMRC’s full 2020 regulations, giving our customers peace of mind that they will be compliant moving forward.
As an added bonus, our solution is compatible with various milestone versions, as well as being available on both the desktop and web. The solution has also been designed to work with a number of complex VAT set-ups, with a full list of supported scenarios available.