HMRC have said that a few businesses could qualify for an extension to their Making Tax Digital (MTD) for VAT soft landing period. Under current rules for VAT everything must be done digitally including transfers, exchanging data between software programs, and products or applications.
However, the government introduced a one year long ‘soft landing period’, to help businesses to get the digital links in place. This period begins on or after 1 April 2020, or 1 October 2020 for deferred businesses.
HMRC announced on 17 October that some businesses could qualify for an extension to this soft-landing period. The extension is available for businesses with complex or legacy IT systems that require a longer period to put digital links in place. To apply for this extension you will need to email [email protected] to request an application form.
The reason why this extension is being offered is because businesses and professional bodies has outlined difficulties some will face in getting digital links in place in time.
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