Our Interactive legal accounting software has been recognised by HMRC for Making Tax Digital (MTD). We've completed the recognition process having registered with HMRC's software developers' support team and demonstrated our in-development MTD functionality. We're now on HMRC's list of VAT compatible products in development.
To backtrack slightly, MTD for VAT becomes mandatory for all VAT-registered businesses with a taxable turnover above the VAT threshold of £85,000 from 1st April 2019.
Our software development team is busy working to introduce the new features to Interactive, liaising closely with HMRC throughout, in order to ensure the necessary integration is in place ahead of deadline.
Once Interactive's fully MTD-ready, on top of existing functionality whereby users keep detailed records of all sales and purchases for VAT purposes, they'll be able to submit VAT returns straight to HMRC, and view current and past VAT returns from one handy screen.
Existing Quill clients are advised not to register for MTD until we instruct them to. We'll do so as soon as we're closer to release. Watch this space!