- Digital record keeping is required for VAT compliance under Making Tax Digital
- All VAT-registered businesses must maintain accurate digital records
- Records must include VAT charged and paid, time and value of each supply, and any VAT return adjustments
- Reverse charge transactions and VAT accounting schemes must be recorded
- Compatible software or spreadsheets must be used to link directly to HMRC systems
- Manual data transfers are not allowed; digital links are required
- Digital record keeping should start upon VAT registration and records must be kept for at least six years
- Proper digital record keeping helps avoid errors and compliance issues
Source: ecovis.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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