MTD – VAT

VAT-MTD HMRC publish list of software suppliers and guidance

Date 13/07/2018

HMRC has published the Making Tax Digital for VAT Guide, the Software Suppliers Supporting Making Tax Digital List and HMRC Stakeholders Communication pack on the GOV.UK website.

All can be found on the MTD for VAT collection page.

VAT guide

  • The notice gives guidance on the digital record keeping and return requirements for Making Tax Digital for VAT.
  • It is not a standalone document and should be read in conjunction with other VAT notices (see paragraph 1.3)

Software suppliers supporting MTD

  • HMRC states that more than 130 software suppliers have stated they’re interested in providing software for Making Tax Digital for VAT.
  • Of the >130 over 35 of these have said they’ll have software ready during the first phase of the VAT-MTD pilot.
  • The pilot will be opened to allow more businesses and agents to join later this year.
  • The way I read things there are just under 20 developers with VAT-MTD ready products

Making Tax Digital for Business - stakeholder communications pack

The pack is intended to provided stakeholders with information to support businesses that need to make the transition to digital VAT business record keeping and submission of VAT returns using MTD-compatible software from 1 April 2019.

My view

The publication of the VAT Guide, Software Supplier List and the Stakeholder Communications Pack means those either advising on, or faced with, April 2019 VAT mandation will be in a better position to know what is expected of them and what they will need to do to be compliant in the brave new world of VAT-MTD. As well as giving them a level of reassurance that large third-party software solution providers such as Intuithave market-ready VAT-MTD compliant software.