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How has Making Tax Digital changed VAT recordkeeping?

Caroline Miskin explains Making Tax Digital for VAT’s recordkeeping requirements. She answers some common questions and clarifies areas of confusion, including the level of detail needed for digital records, relaxations and trading through digital platforms.

Record keepingCaroline Miskin explains Making Tax Digital for VAT’s recordkeeping requirements. She answers some common questions and clarifies areas of confusion, including the level of detail needed for digital records, relaxations and trading through digital platforms

HMRC has been somewhat disingenuous in its assertion that Making Tax Digital (MTD) doesn’t change VAT recordkeeping requirements other than by introducing a requirement for certain records to be maintained in digital form. Other myths also abound.