DATATRACKS OXBOW

MTD for VAT
Bridging Software

With over 180,000 compliance reports filed so far, our solutions are designed to assure quality, reliability and ease of use.

 

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What is Making Tax Digital (MTD) for VAT returns?

HMRC, under its MTD initiative, proposed a phased implementation of digital record keeping, requiring quarterly reporting from businesses, the self-employed, and landlords for Income Tax Self-Assessment (ITSA), Value Added Tax (VAT) and Corporation Tax (CT) between tax years 2018-19 and 2020-21.

The timelines of the initiative have since been revised, requiring only VAT registered businesses with annual taxable turnover greater than £85,000 to comply initially during the soft landing period. These businesses are required to submit their VAT obligations to HMRC using MTD compatible software instead of the online form previously provided by HMRC.

The compliance deadlines for VAT registered business are:

  • April 2019 for VAT registered businesses with annual taxable turnover more than £85,000
  • April 2020 for other VAT registered businesses

 

MTD Timeline

  1. March 2015

    HMRC announced its vision of MTD

  2. August 2016

    HMRC lanunched consultations on MTD

  3. July 2017

    MTD for Businesses re-introduced with new timetable for implementation

  4. July 2018

    HMRC closed beta trial commences

  5. April 2019

    HMRC mandated VAT registered businesses above the annual taxable turnover (£85k) to submit their returns digitally

  6. April 2020

    HMRC may mandate for all other VAT registered businesses and for other taxes such as Corporation tax

DataTracks Oxbow MTD Reporting Solution (Bridging Software)

DataTracks, a software provider recognised by HMRC for supporting Making Tax Digital (MTD) for VAT, enables a seamless and smooth VAT filing with HMRC with their innovative MTD solution. In alignment with HMRC’s digitisation process, the company’s team of experts has developed an innovative bridging technology that links the regulator’s APIs to collect data and facilitate VAT filing.

The MTD solution provided by DataTracks is suitable for all levels of businesses and agencies. It allows people to keep using Excel spreadsheets to store their data and then to file their VAT returns with HMRC while meeting all the requirements of MTD.

How it works

SIGN UP

Sign up by filling the sign- up form, place the order and make the payment

ACCOUNT ACTIVATION

Activate your account using the link triggered from DataTracks Customer Care email to access the application

DOWNLOAD TEMPLATE

Download the template from the application in Excel and link with source

UPLOAD VAT RETURN

Upload the Excel-linked VAT return into the application

FILE WITH REGULATOR

Submit VAT return to HMRC and retrieve the return anytime

Sign up by filling the sign- up form, place the order and make the payment

Activate your account using the link triggered from DataTracks Customer Care email to access the application

Download the template from the application in Excel and link with source

Upload the Excel-linked VAT return into the application

Submit VAT return to HMRC and retrieve the return anytime

Why you are better off using DataTracks Oxbow Bridging Tool?