MTD – Bridging Software is here to stay
From 1 April 2021, businesses using bridging software need to ensure that digital links are used when transferring the accounting data to the bridging software when completing VAT returns.
What does this mean?
‘Copy and Paste’ is no more. But, the linking method shown in our User Guide is completely MTD compliant.
Can I still use spreadsheets?
Yes, yes and yes – VAT Notice 700/22 4.2.1 Digital links states that a digital link includes linked cells in spreadsheets. For example, if you have a formula in one sheet that mirrors the source’s value in another cell, then the cells are linked.
What do I need to do?
If you already follow the linking method as per our User Guide, then no changes will be required. If you currently use ‘Copy and Paste’, then from 1 April 2021, you will need to start using the linking method. You can find out how to do this by accessing our User Guide via the link below.
You should have no problems following the steps in our guide. But if you do have any queries, please feel free to get in touch.