MTD Tax Digital

Making your Tax Digital

Making Tax Digital is a new rule to make it more competent for HMRC to gather tax. For VAT, businesses and companies that keep electronic records permit the VAT information to be sent to HMRC by Kanexy software, reducing any human errors in the conduction process. Of course this will not eradicate errors in record keeping! It will modernize the reporting of tax filing.

Authenticated Software

To guarantee that the VAT returns are properly received by HMRC you must present your VAT return using approved software that has been verified and accepted as working by HMRC.

Electronic Records

If you already possess verified Accounts software then you already have electronic records. You will be required to send the VAT return generated by your Accounts software to HMRC automatically, using a verified submission tool.