Digital Tax Solutions |
Digital Tax Solutions
Draft regulations laid on 28th February 2018 set out the proposed requirements for keeping digital records and attempt to demonstrate how businesses could use software alongside spreadsheets to prepare VAT returns.
The regulations state that a complete set of records does not have to be kept in one piece of software; records can be kept in a range of compatible digital formats, but an important feature is that where separate pieces of software are used to maintain a complete set of records, they must be digitally linked.
Could a simple analysed cashbook be the answer for some clients? Let us have your feedback by completing this quick survey.
The regulations state that a complete set of records does not have to be kept in one piece of software; records can be kept in a range of compatible digital formats, but an important feature is that where separate pieces of software are used to maintain a complete set of records, they must be digitally linked.
Could a simple analysed cashbook be the answer for some clients? Let us have your feedback by completing this quick survey.