Making Tax Digital - What is a digital record and a digital link?

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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Solution Properties

Solution ID
200427112511898
Last Modified Date
Wed Mar 23 14:27:21 UTC 2022
Attributes
Product Details
Modules: Tax
Modules: VAT
Modules: Making tax digital
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