The Chartered Institute of Taxation has welcomed HMRC’s decision to adopt a ‘soft landing’ approach to digital links for the first year of Making Tax Digital (MTD). Digital links include linked cells in spreadsheets, emailing a spreadsheet containing digital records to a tax agent and transferring a set of digital records onto a portable device. This approach means that taxpayers will be able to ‘cut and paste’ information between software for accounting periods starting in financial year 2019/20. However, it will still be necessary to use application programming interface (API) enabled software to submit VAT returns.
Read more about the ‘soft landing’ approach at: