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Digital Linking: Your options

Having successfully filed your first MTD VAT submissions, now is the time to ask if you are prepared for the next phase. This will see the introduction of the digital link requirement for the transfer or exchange of data from systems containing the digital records to VAT calculation and return submission systems.

Organisations required to comply will need to ensure they have introduced new processes and systems to satisfy the digital link requirement by April 2020 (or October 2020 if you are in the deferral category). These dates also signify the ending of the soft landing period which means businesses who have not made “every effort to comply with the digital links requirement” can expect to face penalties for non-compliance irrespective of whether or not their VAT return is correct.

Tax Systems is a leading specialist in corporation tax technology & services in the UK & Ireland. As of 24th May 2018, MXC Capital Ltd (LON:MXCP) holds a 4% share.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.