New HMRC Legislation for VAT will come into effect from April 2019 for businesses who have turnover above the VAT threshold to use the Making Tax Digital system to meet their VAT obligations using digital reporting and record keeping for VAT.
There has been some conversation around Making Tax Digital with regards to Microsoft Dynamics GP and whether it would be supported. Tim Wappat did a post on this subject back in June and I’ve been referring people to the idea and asking them to vote on it.
About three weeks ago, Terry Heley posted an update:
This will be reviewed for GP 2018 R2
I wasn’t aware that there was going to be a Microsoft Dynamics GP 2018 R2 and, according to a post on Twitter I can’t find again, someone has suggested it will be released in October; I was expecting a 2019 in December instead.
The idea is now showing a status update that Microsoft are implementing the required changes:
We are in the process of implementing the changes needed for the Making Tax Digital initiative in the UK. Stay tuned for updates as to when this will be released.
This is good news for both partners and clients in the UK, as Making Tax Digital will be mandatory. There is no news on which versions of Microsoft Dynamics GP will have the new functionality, but I would expect this to be in all versions covered by mainstream support (you can access the Microsoft Dynamics GP Product Lifecycle page here) as this is a regulatory requirement (Microsoft has a history of including regulatory requirements; see the addition of the Invoice Receipt Date field which was added to all versions from 2013 to 2016 in the July 2017 update.