CIOT welcomes easing of MTD requirements
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CIOT welcomes easing of MTD requirements

posted in Tax by Phillip Harris on 09:00 Aug 1st, 2018

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 CIOT welcomes easing of MTD requirements

The CIOT has welcomed the legal status of HMRC’s “soft landing” intended to help taxpayers meet the IT demands of Making Tax Digital for VAT. Businesses who have a turnover above the VAT threshold will be required to comply with the Making Tax Digital for VAT rules from April 2019. A recent VAT Notice published by HMRC said that in the first year, businesses will not be required to have digital links between software programs. In this initial period, HMRC will accept the use of cut and paste, or manual transfer, as compliant for these VAT periods. John Cullinane, CIOT Tax Policy Director, said: “Most businesses want to comply with what the law requires them to do, and this approach from HMRC helps ensure that is the case.”

Source: Politics (28/07/2018)

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