Source – Tax Calc
As per VAT Notice 700/22 the soft landing period for digital links is coming to an end.
For VAT return periods beginning on or after 1 April 2020 (1 October 2020 for deferred businesses), digital links between the VAT return figures submitted and the VAT transactions supporting those figures will be required. This means that HMRC may require evidence of totals calculated automatically via formulas and linked cells in a spreadsheet, for example.
Even after the ‘soft landing period’ has ended, our VAT Filer bridging software has met HMRC’s requirements for being listed on their software supplier list and continues to be compliant. VAT Filer provides an incoming digital link, by allowing businesses to import data held in a spreadsheet into the nine VAT Return boxes. From there, the information is sent digitally, via APIs, to HMRC’s MTD system. TaxCalc also provides for the ability for post-import adjustments to cater for items such as partial exemption and the margin scheme.