WHAT IS MTD?
MTD is that digitally generated records by all registered businesses with VAT above the VAT threshold must be kept and sent to the Her Majesty’s Revenue and Customs (HMRC) system using third-party commercial software.
It includes three point especially;
- All data must be recorded digitally.
- Data must be transferred from one system to other digitally.
- VAT return must be provided to HMRC system via HMRC’s API.
MTD PROCESS
All enterprises that has VAT over the VAT threshold (85.000 £ /year) must create digital tax account and send VAT return file to HMRC system on line quarterly after April, 2019. Enterprises that has KDV under the VAT threshold can be registered in this system voluntarily.
HMRC specified that following groups will be out of this scope;
- Who cannot use digital tools for reasons of religion, age, disability, remoteness or any other reason
- Charities, (although trading subsidiaries of charities will not be exempt)
- Unincorporated businesses and landlords with annual sales below the £10,000 threshold
For a small minority of businesses that have more complex requirements, we have made the decision to defer mandation by 6 months to ensure there is sufficient time for testing the service with them in the pilot before they are mandated to join. These businesses have until 1 October 2019 to start keeping records digitally and using MTD-compatible software to send their VAT returns to HMRC.
Records must be kept for 6 years. (If VATMOSS is used, they are kept for 10 years)
NETLE MTD SOLUTION
With Netle Yazılım –Global e-Transformation infrastructure and datas which are congruent with MTD requirements and legal mandatories can be prepared. Netle MTD solution which is created with electronic management tools or user interface by the scope of specific rules submit VAT returns digitally to HMRC and view VAT obligations, liabilities and payments. Netle MTD solution archives legal data within the boundaries of the European Union according to customer requirements.
Throughout the entire process, the Netle Tick Tock System (NTTS) support platform provides 24/7 support for questions / problems.
Features
- MTD Cockpit for SAP
- Retrieve VAT obligations
- Submit VAT return fort he period
- View submitted VAT returns
- Retrieve VAT liabilities
- Retrieve VAT payments
Netle MTD solution is listed on the HMRC “Find Software for Making Tax Digital for VAT” web-page.
For more information about Netle MTD solution, please contact us via satis@netle.com.tr
GEP MTD COCKPIT – SALES LIST
GEP MTD COCKPIT – VAT OBLIGATIONS
GEP MTD COCKPIT – VAT LIABILITIES
GEP MTD COCKPIT – VAT PAYMENTS
GEP MTD COCKPIT – 9 BOXES
Version 3.0 of the Fraud Header Specification
HMRC monitor transactions to help protect customers’ confidential data from criminals and fraudsters. To make this possible, the software for VAT(MTD) must send specific user audit data to HMRC.
Header data must be submitted for VAT (MTD) and Income Tax Self-Assessment (MTD) APIs by law. Our “NETLE Global UK MTD” software submit HTTP fraud prevention headers while using HMRC VAT(MTD) API.
On 6 February 2021, HMRC published version 3.0 of the Fraud Header specification which is available at: https://developer.service.hmrc.gov.uk/guides/fraud-prevention/. We have implemented the changes outlined in version 3.0 that affect our application.
Version 3 System Changes
• “Gov-Client-Local-IPs-Timestamp” is a new header for all connection methods
• “Gov-Client-Public-IP-Timestamp” is a new header for via server connection methods
• “Gov-Vendor-Product-Name” is a new header for all connection methods
• “Gov-Client-Device-ID” must be submitted as a universally unique identifier (UUID)
• “Gov-Client-User-Agent” must be submitted as a key-value structure
• Clarification that “Gov-Client-Multi-Factor” accepts seconds and milliseconds
• Clarification on when to collect values for “Gov-Client-Local-IPs”