Following the new MTD legislation what is happening for companies that are registered as a group with HMRC for VAT purposes?
We need to be able to submit multiple companies as one VAT return to HMRC.
Is there a way to link the companies so inter-company journals can be posted automatically across two companies to then be able to submit all figures from a 3rd?
We also have this problem on the horizon - and it is getting closer.
Kashflow will not be MTD compliant for any Group VAT situation unless there is a solution provided for this - and we simply won't be able to meet HMRC requirements.
It is needed by the end of October 2019 for us and others.
Kashflow's main competitors are offering solutions already.
A 'workaround' solution proposed by Kashflow Support to us of making vat memorandum adjustments to the vat return in one company to reflect vat transactions in the other Group companies is not viable and can't be compliant as the VAT return from that company would not be 'digitally linked' to the other group companies' accounting system/vat transactions.
Please escalate this to the Product Development Team urgently
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