Posted on 16 April 2018 at 16:18 UK time
After the whole GDPR debacle I am sure everyone is rolling their eyes and groaning at the thought of another ‘legal requirement’ that will affect their ERP systems, but, never to worry! We have scoured the web, read the articles, and attempted to extract the relevant information to help inform you of how it will affect you and your system.
HMRC announced that the introduction of MTD will come in to effect in April of 2019; the initiative requires individuals and businesses to register, file, pay and update their information using a new online tax account and it will be compulsory for all VAT registered businesses, which means it applies to all our Microsoft Dynamics ERP customers in SMB and Enterprise. MTD is the government’s plan to make it easier for businesses to stay on top of their day-to-day accounts, and the HMRC are looking to be the most digitally advanced tax administrations in the world! But, let’s not under estimate the importance of MTD to your company and how it will affect you.
Microsoft has said that their various systems (be that AX, NAV or 365) already support submitting VAT reports electronically to an extent; in a recent blog post, Soren Friis Alexandersen, senior program manager for Dynamics 365 SMB at Microsoft in Denmark, said:
It is unknown yet exactly which versions of NAV will be updated to include this new law; however, I think it is safe to assume it will most likely be versions 2009 upwards, being that these are still covered under Microsoft’s Extended Support. It is important to note that if your version is no longer covered by Extended Support you will definitely have to start thinking about implementing a system upgrade. Can’t I just purchase an ISV add-on? I hear you asking – but unfortunately, the answer is no. The depth of which this requirement and the changes it will affect go far deeper than anything a developer might be able to produce, and when it comes to the HMRC and legal requirements, it is not something anyone wants to get wrong.
If you’re worried about your system, not sure if you need an upgrade, or just want to know how much an upgrade would cost and which version you would need, feel free to call us at the office and we will be happy to talk through your options with you.
Additionally, why not have a look at our previous blog post regarding the NAV Support Life Cycle, where you will be able to see all current versions covered under Mainstream or Extended Support.