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During the working day you can expect to receive a response within a few hours. During weekends and Bank Holidays you will receive a response on the next working day.

What is MTD and what does it mean for businesses?

Making Tax Digital (or MTD for short) is an initiative by HMRC to make the tax process more effective and reduce errors. It means that for VAT registered businesses above the threshold of £85K a year, digital records need to be kept and VAT returns must be submitted using compatible software (or through the HMRC website itself). The initiative comes into effect on 1st April 2019 – read more about the initiative here.

Khaos Control is close to becoming HMRC registered compatible software for MTD. We’re working towards making the solution as easy to use as possible for those who meet the threshold criteria, and will be rolling out an update in February to implement the changes.

Steps we’ve taken to become compatible

Our team has been working hard with HMRC to meet the required standards for compatible software. In the background, development and coding has been underway to develop the solution. From a usability perspective the main change is a handy little button in the VAT screen of Khaos Control. This will enable users to send VAT data to HMRC in the digital format required.

FAQS

  • Will this be issued to Customers as an update to their existing version of Khaos Control? Yes, we will be rolling out an update in February 2019 that includes the functionality for MTD.
  • How does the software work in relation to MTD? It takes the VAT information from Khaos Control’s existing tax screens and makes them suitable for electronic submission. This will prompt users with relevant obligations/period for submission for their VAT, and then export the information.
  • Is any registration needed? Are there any other tasks that need to be done by the users? Registration and configuration, as well as access to your Business Tax account on the HMRC portal, is required. As part of the Khaos Control functionality you’ll be prompted to acquire an access token for your account and enter this into Khaos Control.
  • Are there any draft training materials and/or preview of screens? Yes, see Connecting to HMRC and Processing a VAT Return.
  • Will Direct Bank Transfer capabilities be part of this? i.e. to customers or suppliers? No, this is not part of the MTD elements we have integrated with.

Interested in learning more?

If you have questions or feedback on our part in MTD, let us know:

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