July 16 2018

VAT Notice 700/22: Making Tax Digital

Source: IBFD Tax Research Platform News

On 13 July 2018, HMRC published VAT Notice 700/22: Making Tax Digital. The notice provides guidance on the digital record-keeping and return requirements for Making Tax Digital for VAT, which requires VAT-registered businesses with taxable turnover above the VAT registration threshold to keep records in digital form and file their VAT Returns using software.