On January 31st 2021, the United Kingdom became a third country for VAT purposes, and the EU reverse charge rules for the supply of goods sent to/from the UK no longer applies. Companies instead should treat such transactions as exports or imports.
9th March 2021: As the soft-landing period is now fast approaching for Making Tax Digital, digital links should be used between all parts of the business’ functional compatible software from their first VAT return period starting on or after 1 April 2021.
Making Tax Digital (MTD) is the Digital Transformation of the United Kingdom’s Tax System by HMRC. Taxback International have developed Comply – an innovative end-to-end VAT compliance technology. This Making Tax Digital bridging software, enables your business to manage your UK returns regardless of jurisdiction and to stay compliant.
8th May 2020: April saw many advancements in the United Kingdom as talks focus on a series of deadlines on Brexit, while MTD is pushed to 2021.
1st April 2020: To ease the burden on businesses during the COVID-19 crisis, HMRC has confirmed that it is allowing more time for participants in MTD for VAT to implement digital links within their recordkeeping systems.
2nd March 2020: What are the consequences of not adopting a digital approach?
