Detail of outcome
Following the closure of the technical consultation on the draft VAT Regulations and the VAT Notice on 9 February 2018, HM Revenue and Customs received about 60 responses from professional bodies, large agents, and large and small businesses. We would like to thank those who contributed.
The regulations were laid on 28 February 2018 and we plan to have further engagement with stakeholders on the VAT Notice.
HM Revenue and Customs (HMRC) has published draft regulations, together with a draft explanatory memorandum and draft VAT Notice, for public comment.
The proposed secondary legislation would make changes to the VAT regime, effective from 1 April 2019. It would require businesses with taxable turnover above the VAT registration threshold to keep and preserve digital records and provide VAT returns using compatible software.
HMRC is also making available for comment a proposed Addendum to the draft VAT Notice, setting out how businesses could use compatible software alongside spreadsheets to provide VAT returns.
Comments on any of the documents should be sent by email to: firstname.lastname@example.org.