New Update for Sage X3 and HMRC MTD
Her Majesty’s Revenue and Customs (HMRC) announced in Jan 2021 significant structural changes for Making Tax Digital (MTD) submissions, effective 7th July 2021
Making Tax Digital (MTD) started on the 1st April 2019. It is a UK government initiative that is designed to be more efficient, more effective and easier for taxpayers (individuals and businesses) to get their tax right. The system aims to eradicate the errors made when inputting data manually.
At present (2019), the initiative only requires UK VAT registered businesses to submit their VAT returns digitally to HMRC. At some point during the next few years, income tax and corporation tax will also be required to be submitted digitally. The government will announce this at a later date.
All customers need to update their Sage X3 software to the latest level, as older formats will no longer be accepted by the HMRC.
Sage plans to release with Sage X3 2021 R2, Version 11 and PU9 a new Syracuse server that will need to be installed by all impacted customers.
For customers running earlier versions of Sage X3 that are no longer eligible for maintenance support we strongly recommend upgrading to the latest release as soon as possible. For help with any updates or upgrades, please contact our team on firstname.lastname@example.org.
In the next couple of weeks, Sage plan to send out further communications regarding this too, so please watch out for these. We will also be sharing the FAQ document detailing more surrounding this update.