Summary
Keeping your records digitally for Making Tax Digital (MTD) purposes means that you must store a digital copy of the transactions which make up the figures on your VAT return.
Resolution
Digital records need to be kept in functional compatible software, which means software or a set of software programs which must:
- Record and preserve digital records.
- Send the data to HMRC through the API.
- Receive information from HMRC via the API.
Broadly a digital link allows data to be imported or exported between programs without the need for manual intervention.
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