Making Tax Digital in the UK

Making Tax Digital is the UK's digital VAT reporting legislation effective as of April 1, 2019.

Get Ready for e-Filing in the UK

As of April 1, 2019, businesses with over £85,000 in turnover subject to VAT must, on the one hand, file their VAT returns digitally, and on the other hand,  submit them to HMRC electronically via API, with no manual intervention. Businesses with taxable turnover below the VAT threshold can also register for MTD on a voluntary basis.

The aim is to better control tax evasion and fraud and reduce errors made in manually processed documents. EDICOM's MTD solution has been approved by HMRC as a digital VAT registration and bridging software.

Which Companies are Affected by Making Tax Digital?

Companies with more than £85,000 in turnover subject to VAT must ...

 

Keep their VAT Records in Digital Archives

Keep their VAT Records in Digital Archives

Submit their VAT Records to HMRC via API

Submit their VAT Records to HMRC via API

What Information Does the MTD File Contain?

The file contains the nine fields that are currently reported to HMRC:

  • VAT for the period on sales and other products.

  • VAT payable for the period on purchases from other EU member states.

  • Total VAT due (sum of boxes 1 and 2).

  • VAT claimed for the period on purchases and other supplies (including purchased in the EU).

  • Net VAT payable to HRMC or VAT refund claimed (differences  between boxes 3 and 4).

  • Total value of sales and all other products, excluding VAT.

  • Total value of purchases and other supplies, excluding VAT.

  • Total value of all goods supplied and related costs, excluding VAT, to other EU member states, excluding VAT.

  • Total value of goods acquired from other EU member states and associated costs, excluding VAT. 

How to Communicate with HMRC

Users connect with HMRC through the Web Service protocol via API, preferably using JSON.

White Paper on VAT Compliance

This analysis of International Electronic Tax Compliance (available in English and Spanish) is a resource designed for companies that currently operate in several countries or have plans to do so.

Learn how indirect VAT works, how it is regulated and what its implications are for both businesses and tax authorities.

What Information Must Be Digitally Archived?

Mandatory Information (6 years)

  • Company name

  • Company address 

  • VAT registration number 

  • VAT accounting outlines 

  • VAT calculations 

  • Adjustments applied 

For Product Sales and Purchases

  • Delivery date

  • Cash value 

  • VAT

  • Adjustments or corrections made to VAT 

  • Total VAT 

  • Gross daily costs  

Making Tax Digital Compliance

EDICOM - MTD (UK) Solution

We take care of the entire electronic process under strict security conditions.

Integration

Integration

Integrates with any accounting system or ERP.

Communications with public administrations

Communications

Public Administrations HUB to connect with HMRC.

Invoice Control

Invoice Control

Integrates information on the status of the invoices sent to your ERP.

e-Archiving

Archiving

eIDAS certified electronic archiving.

Do you need to implement tax reporting projects in other countries?

EDICOM's platform simplifies communication processes with tax authorities in multinational contexts. It is a multistandard, multiprotocol solution that adapts to the market's main ERP systems.

SII - Spain

Immediate Supply of Information

MTD - United Kigdom

Making Tax Digital

SAFT-PT - Portugal

Standard Audit Tax Purposes 

Greece - myDATA

My Digital Accounting & Tax Application

i.MAS - Lithuania

Smart Tax Administration System

SAF-T - Norway

Standard Audit Tax Purposes

RTIR - Hungary

Real Time Invoice Reporting

SAF-T Romania

Standard Audit Tax Purposes

SAF-T Austria

Standard Audit Tax Purposes

Compliance Latest News

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The declaration of SAF-T accounting files will be mandatory beginning in January 2024

Portugal: Electronic Tax Requirements in 2022

New obligations to comply with electronic tax requirements in Portugal

e-Tax Compliance in Greece – myDATA

What is myDATA and how does the new tax declaration system work in Greece?

Send us your contact details and we’ll get back to you right away.

Contact one of our specialists for answers to all of your questions about our data integration solutions.

Let’s talk!

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