Huge thanks to the team at My Digital Accounts @MyDigitalAcc for enlightening me about a little know Making Tax Digital wheeze.
Did you know that you can just cut and paste your VAT data into the any bridging software’s excel template until the end of what HMRC have termed the “Soft Landing Period”?
In plain English, that means until the first VAT return after 1st April 2020 i.e.
- By 7th August 2020 for VAT quarter to 30th June 2020
- By 7th September 2020 for VAT quarter to 31st July 2020
- By 7th October 2020 for VAT quarter to 31st August 2020
YES 2020 and not 2019!
Full details can be found at paragraph 3.2 .1.1
Soft landing regarding digital links requirements
So panic off ……
Keep your current systems
- Buy Bridging Software (a fancy title for a piece of software that links your system or spreadsheet to the new HMRC VAT system AKA Gateway) at less than a hundred quid a year
- Cut / Copy and paste your data into the Excel spreadsheet that links to the Bridging Software
- Come back to Making Tax Digital for VAT in 2020 when things have settled down
- Watch this space for further (practical and real) Making Tax Digital for VAT updates