The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of Making Tax Digital (MTD) for VAT.
Broadly, MTD for VAT is a requirement on businesses to keep records in a digital format and file VAT returns using ‘functional compatible’ software. This software must be capable of receiving information from HMRC digitally via an ‘API’.
Key considerations associated with MTD for VAT include the following:
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