In The News
In a welcome move, the need for your different VAT systems to be digitally linked under Making Tax Digital has been delayed until next year.
These rules had specifically excluded the use of ‘cut and paste’ or ‘copy and paste’ as a way of inputting information from say your DMS into a spreadsheet, but some dealers have struggled to extract data from their DMS in Excel format. At a time when many accounts teams have been furloughed, this relieves the additional pressure a redesign in accounting systems would create.
This announcement extends the soft landing period for the rules until your first VAT return period starting on or after 1 April 2021, but if you already have digital links in place you should continue to use them.
If you have additional questions which have not been addressed above please contact Chris Cummings on 07896 117908 or by email firstname.lastname@example.org