UK MDR is making small steps towards implementation. The IT and Policy teams at HMRC are hard at work finalising everything that is required ahead of the new legislation.
Between November 2021 and February 2022, HMRC conducted a consultation on the new UK MDR legislation. While the results of the consultation have not yet been published, we understand that the results are ready and HMRC are making good progress with the final legislation. The announcement of a start date for UK MDR is expected soon.
HMRC’s IT team have been very busy preparing a new system to accommodate UK MDR reporting. VinciWorks and other key stakeholders have been helping HMRC with their technical research. It is understood that the UK MDR reporting system will sit side by side with the current UK MDR system. This is in order to allow for a short period where there might be reporting requirements under both UK MDR and UK DAC6. Reports under UK MDR will remain in the same XML format as UK DAC6.
Once legislation is confirmed and dates are finalised, VinciWorks will release updated DAC6 courses including new references to UK MDR, together with a new short course “UK MDR – What’s changed”. VinciWorks developers have been hard at work and the MDR reporting system is already able to support XML reports under UK MDR; this too will be released once legislation is confirmed.