Digital records will become digitally linked to the digital submission process from April 2020.
End of March 2020 means end of MTD Phase 1 and that means more changes to how you do handle your tax obligations.
Under Phase 2, businesses that exceed the £85,000 threshold will need to have digital records and digital links in place to create an automated end-to-end VAT process. For your existing solution for Phase I compliance solution to be capable of supporting digital links under Phase 2 it must digitally link back to source data held in the digital records and be able to extract this and use it to populate the return.
If you are in doubt about whether your solution complies with phase 2 call us today and we will review your solution with you.
If you are already using the IMS Bridging software be assured that it has the capability to comply with Phase 2. If you are not sure if you have it configured for compliance under Phase 2 please call us.
We are here to help.
Contact us today – call Archie Gardner on 0845 1308499 or 07885104218.