The new Making Tax Digital Scheme comes into effect from HMRC on 1st April 2019. Making Tax Digital legislation requires all VAT to be reported electronically. This can be supported in all the current versions.
Are you reporting your VAT electronically for a business with Group Registration? Brookland Solutions have created a specialist VAT consolidation process for use with NAV for Group Making Tax Digital, whereby VAT Entries in all subsidiary companies can be consolidated into one in NAV for VAT reporting.
Groups need to submit their returns online for submissions due after 1st October 2019.
If you need any support please contact us on 01372 282640 and we will work with you every step of the way in making your tax digital.
Dynamics Nav and Dynamics 365 Business Central
Microsoft has included the facility to submit electronic VAT returns in their latest version of these two products.
From Dynamics Nav 2015 onwards there is functionality available within their 2015 cumulative updates or Brooklands can provide an add-on solution to meet the requirements of MTD which will save you time and be less disruptive.
This may also be the time to consider an upgrade to a newer version so do get in touch to discuss.
Pre Nav 2015
Any versions prior to 2015 are not supported and the following options will need to be considered
- Upgrade to Dynamics Nav 2018 or Dynamics 365 Business Central
- Our Add-on
- Cut and Paste (For the ‘soft landing’ period to 31st March 2020 you can copy figures to a bridging application for submission to HMRC)