UK: Value Added Tax (Amendment) Regulations 2018

UK: Value Added Tax (Amendment) Regulations 2018
The UK Government has released The Value Added Tax (Amendment) Regulations 2018, to provide for the introduction of new digital tax administration obligations for value-added tax registered persons in the UK. Under Making Tax Digital from April 1, 2019, businesses with a turnover above the VAT threshold (currently £85,000, or about $117,000) will have to: keep their records digitally (for VAT purposes only), and provide their VAT return information to HMRC through compatible software. Legislation here.