This may have gone unnoticed by most businesses but HMRC announced this week a one-year delay to its enforcement of rules specifying the digital transmission of transaction data through the Making Tax Digital (MTD) for VAT return filing process. This extends the soft landing period put in place for digital links when MTD was made mandatory for registered businesses above the VAT threshold.
Businesses now have until their first VAT return period starting on or after 1 April 2021 to put digital links in place.
Please contact your usual Drummond Laurie adviser or Julie McVicar if you have any questions on this matter.
