Many people think they have heard all there is to hear about Making Tax Digital.
But there is another aspect of MTD that many are not aware of: The Digital Link.
A grace period was extended for Making Tax Digital adoption to April 2021 due to COVID disruptions. For VAT returns on or after this date, organisations are required to stablish digital links which automate the transfer of data. The relevant software must be used for these information submissions to HMRC.
Are you digitally linking the right way? If not, penalties could follow.
IMS has a checklist for all you need to know about MTD reporting, and the correct software and links required to facilitate the process.
The consequences if not addressed could affect you. For further information on solutions policy and related services, speak with IMS on 0845 1308499 or email Solutions@IMSolutions.info