Attention P2 IDEAS Customers: UK Leading Digital Tax Transformation & Making Tax Digital for VAT

Her Majesty’s Revenue and Customs (HMRC) “Making Tax Digital for VAT” deadline is fast approaching. As stated in the HMRC’s stakeholder communications pack, “From April 2020, data must be exchanged digitally between all software used by a business for VAT.”

This is part of the HMRC’s larger “Make Tax Digital” initiative. Their ambition “is to become one of the most digitally advanced tax administrations in the world.” The driving reasons outlined in this overview are to become more effective and efficient, and make it easier for taxpayers.

If you need to follow the rules for “Making Tax Digital for VAT,” the HMRC offers help in their step-by-step guidance document. A critical step is to “get the right software,” and P2 is here to help your business.

P2 is pleased to offer international accounting software that is approved by the HMRC for submitting VAT returns digitally. If you want to know more about how P2 IDEAS helps customers account for the money and supplies in international ventures, contact Chris Wilke.