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• HMRC well known in UK as Her Majesty's Revenue and Customs is changing the way we submit VAT Returns.
• From April 1,2019 most VAT registered business with taxable turnover above GBP 85000 must maintain there VAT records digitally and start using Making Tax Digital ( MTD) compliant software to submit their VAT Returns and Compliances.
• As we understand Dynamics Business Central and Dynamics NAV 2018 is already Making Tax Digital compliant.
• However, it would be good to take note that Enterprises may qualify for submission through VAT group legal entity architecture.
• As of now many of our clients have requirements around the Group VAT compatibility in Dynamics Business Central.
• We would like to know the takes of Microsoft around development in this topics at earliest.

Regards,
CA Shailesh Apte
Mercurius IT Limited, UK
STATUS DETAILS
Completed
Ideas Administrator

Thank you for your feedback. We are building this feature for the next major release.

Søren Alexandersen
Program Manager, Microsoft Dynamics 365 Business Central, Localization

Comments

S

I can see this has been added to the latest release of Business Central, are there any plans to add this to earlier versions such as NAV 2018? we still have customers on these supported versions that still need to submit group VAT

Category: Financial Management

S

we have plenty that require this, so pleased it's being planned!

Category: Financial Management

S

A lot of European countries are starting to use Group VAT Registration numbers, whereas all deals among VAT group members should be processed under Group VAT number. Group VAT number should be shown on all printouts. Moreover, there are difficulties in reporting:
1. VAT Group members should submit the VAT Statement annexes (Local and EU transactions), whereas the VAT statement is submitted blank
2. Main VAT Group company should submit the VAT Statement annex (Local and EU transactions), and VAT statement should include data from (!) all VAT Group members (!).

Category: Financial Management

S

Some of our prospects have stated they are required to start completing their MTD Group VAT filing to HMRC from October 2019.
They are looking to migrate from existing systems to make sure they are compliant, any news on this feature will confirm D365 BC as their next solution.

Category: Financial Management