UK tax authorities have issued a new policy paper on extending the Making Tax Digital for VAT programme. Currently, VAT registered businesses trading above the compulsory VAT registration threshold must comply with digital VAT filing.
Making Tax Digital
Greece has announced that it will start implementing mandatory e-invoicing and e-books from 1 April 2021. Greece had previously intended to implement mandatory e-books submission in 2020. According to Greek authorities, they are delaying implementation
Earlier this week (21 July 2020), The UK government released their corporate report titled “Building a trusted, modern tax administration system” which highlighted the next steps of HMRC’s Making Tax Digital programme while also lauding
April 1 2020, was meant to be the date that HMRC launched phase II of making Tax Digital across the UK. However, due to COVID-19, they have made the decision to postpone the rollout by one year to April 1 2021.
Despite daily updates from HMRC, a year and a half ‘phase-in’ period and a significant number of TV adverts promoting Making Tax Digital (MTD) compliant software, one in ten business have missed the MTD deadline and therefore filed non-compliantly.