UK HMRC Opens Consultation for Further “Making Tax Digital” Legislation

Last week, Her Royal Majesty's Revenue and Customs (HMRC) announced the opening of a consultation period regarding the current legislation for the "Making Tax Digital" initiative, which is slated to take effect from April 2019.

In its announcement, HMRC provided links to summaries regarding the current content of related legislation, and alerted consumers that they have until November 10, 2017 to submit comments to the Customs Office. The notice provides significant guidance on the current stance of the "Making Tax Digital" legislation and the potential impacts to both direct and indirect tax regimes in the United Kingdom. 

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Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern tax. As governments and businesses go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports 5,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit http://www.sovos.com and follow us on LinkedIn and Twitter.
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