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​THE MTD FOR VAT SOFT LANDING PERIOD IS ENDING IN APRIL

Published 20 February 2020

THE MTD FOR VAT SOFT LANDING PERIOD IS ENDING IN APRIL

Have you been waiting for the end of the soft-landing period before worrying about your MTD for VAT software?

The current 12 month soft landing period for digital links will end for VAT accounting periods starting on or after 1 April 2020.

The soft-landing period was introduced to allow businesses to adapt to the new, digital way of submitting VAT returns to HMRC. The end of this period means businesses will no longer be able to copy/paste or re-type VAT information from one system to another.

For VAT return periods beginning after 1 April 2020 (1 October 2020 for deferred ‘starters’), businesses will have to maintain digital records and link those records digitally to their VAT return. A digital link is a transfer or exchange of data electronically between software programs, products or applications.

PENALTIES KICK IN

The suspension of penalties on late MTD filings will also be ending and HMRC will be prepared to issue penalties to businesses that have not moved to one of HMRC's recommended solutions.

If you are still using legacy or older/bespoke systems then we recommend that you speak to a member of our team to identify which solution would be best for you from HMRC's list, we can even offer guidance and training in our recommended solutions.

Contact our team today on 01254 300 050 if you have any questions.