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Dynamics 365 Community / Blogs / Localization and Regulatory Features / Making Tax Digital | Micros...

Making Tax Digital | Microsoft Dynamics 365 accounting software to support the UK initiative Making Tax Digital

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S.H. Alexandersen Profile Picture S.H. Alexandersen 136

Are you using our accounting software Dynamics NAV or Dynamics 365 Business Central and worried about compliance with Making Tax Digital? 

>>** Updated November 2nd 2018 ** >>

The features are now being finalized - read more about it here.

<<** Updated November 2nd 2018 ** <<

Making Tax Digital is on everyone's lips in the United Kingdom (UK) at the moment. And with good reason. Making Tax Digital is an initiative to make it easier for both businesses and individual citizens to stay on top of their tax-related affairs. The ambition of Her Majesty's Revenue and Customs (HMRC) service is to become one of the most digitally advanced tax administrations in the world and to make the tax system more effective, efficient, and easier for customers to comply with.

Making Tax Digital will be rolled out in phases - or rather - enforcement of different aspects of this initiative will happen over time.

At the time of this post we know that businesses in the UK will be required to start using the Making Tax Digital system in April 2019, but only be to meet their VAT obligations. This is, of course, subject to change. The UK government has said (committed) that it will not broaden the scope of Making Tax Digital for business beyond VAT until the system has proven to work, and not before April 2020 at the earliest.

How does Microsoft support Making Tax Digital?

We are working to ensure that the supported UK versions of Microsoft Dynamics 365 Business Central, as stated in the Microsoft Lifecycle Policy, will comply with the Making Tax Digital initiative.

We already support submitting VAT reports electronically. However, at the moment the technical requirements of the initiative are unclear, so we are in dialog with the HMRC and advisory groups in the UK to ensure that our products functionally support Making Tax Digital before it takes effect for businesses.

Here are some of the frequently asked questions we get on Making Tax Digital from our customer and partner communities:

0825.making_2D00_tax_2D00_digital_2D00_microsoft_2D00_supports_2D00_the_2D00_new_2D00_initiative.png

If you want to know more about the foundations for Making Tax Digital, please see this page from the UK government.

Want to try Dynamics 365 Business Central in the cloud, see: https://businesscentral.dynamics.com
Manage all your small or midsized business finances with Microsoft Dynamics 365 for Financials—a single financial management software solution.

Comments

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  • Timon Putzker Profile Picture Timon Putzker
    Posted at

    Will there be any information (Partner Source) about the client ID / client secret for NAV 2015, 2016, 2018 ?!

    The Client ID and Secret provided for BC 365 is not working for these...

  • Community Member Profile Picture Community Member
    Posted at

    Would be the update released for Navision 2015 GB version? If yes, please let us know till when Microsoft is planning to release the same.

  • S.H. Alexandersen Profile Picture S.H. Alexandersen 136
    Posted at

    Please see this new blog post on Making Tax Digital and feature support:

    www.linkedin.com/.../dynamics-365-business-central-nav-recognized-hmrc-tax-alexandersen

  • Adam K Hamlington Profile Picture Adam K Hamlington
    Posted at

    Is there any update to when this functionality will be introduced into Business Central?

  • Wiechardt Brummer Profile Picture Wiechardt Brummer 160
    Posted at

    Hi Søren, do you know when Microsoft is planning on rolling out the functionality in Dynamics NAV 2016 and 365 BC to support this initiative?

  • Community Member Profile Picture Community Member
    Posted at

    Is there any news on when an update or hot fix will be available for supported versions? Which specific versions will the fix be applied to

  • Community Member Profile Picture Community Member
    Posted at

    Is there any update on when this functionality will be available for supported versions of Dynamics NAV? Is there a Cumulative Update or Hotfix that can be applied to make supported versions compliant?

  • Community Member Profile Picture Community Member
    Posted at

    Are there any updates on when this functionality will be released for Dynamics NAV? Presumably it will be part of a CU?