Making VAT Digital Update - Extension for internal DIGITAL LINKS COMPLIANCE period.
With all the Brexit news today, you might have missed an announcement from HMRC of an extension to the deadline to become fully VAT Digital post the 1st April 2020 deadline.
The Public Notice 700/22 now contains at paragraph 220.127.116.11 details of an extension for up to one year for certain businesses with “complex or legacy IT systems”. This will be a help for our larger clients especially those in the Education Sector, but it will be worth checking the criteria to see if you can also benefit.
You will need to make a formal application to HMRC for an extension by the end of the existing “soft landing on penalties” period which will be to 31 March 2020 or 30 Sept 2020 depending on your MVD implementation date.
You can find the details here
Centurion are encouraging our clients to undertake a Making VAT Digital Inform and Plan review with our team to establish where you currently are and what you need to do to address these internal digital links so do get in touch if this would be of interest. This process will help specifically with your application for this additional implementation extension.
If you have any questions, please do not hesitate to contact firstname.lastname@example.org or your direct contact at Centurion if you have one.