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

Sovos
September 20, 2017

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

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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