Opera 3 Compliance with MTD
Opera 3 Functional Changes
Pegasus will be implementing the necessary mandatory changes for Making Tax Digital for VAT (MTDV) in Opera 3 v2.60.00 for all variants of Opera 3.
A new version of the Pegasus Scheduler v2.20.00 will be required as this will be used to communicate to HMRC and to submit the VAT return. It will also be a pre-requisite for customers to uplift to .NET Framework 4.7.2.
Opera 3 MTDV has been designed to allow the customer to specify when the company is required to declare their VAT submissions under Making Tax Digital. This is achieved by a MTD for VAT indicator to turn on MTD VAT in Company Profiles. This will then allow access to a new MTD VAT Centre.
New fields for MTD in Company Profiles include:
- A date field that HMRC have confirmed as the MTDV start date for the company
- An indicator to state that the MTDV submission is being made by an agent on behalf of the customer
- The company’s group company for VAT consolidation purposes
- The VAT Accounting Scheme – for example, Quarterly
Turning MTDV on will allow access to a NEW VAT Centre within the System application. It is within here that much of the VAT related processing will occur. This includes the running of VAT reports, EC VAT declarations as well as committing the VAT transactions to the selected VAT period before processing any final VAT adjustments and submitting the MTDV compliant declaration to HMRC.
The VAT Centre will use HMRC APIs to give Opera 3 the ability to submit the VAT box information to HMRC and to provide the information on what VAT period HMRC are expecting to be filed next and when. It will also provide information on the success of previous submissions, the detail of which will be retained.
The Pegasus Scheduler will be used to create the submission and ultimately communicate with HMRC within the VAT Centre. To do this securely, the Pegasus Scheduler has received a technical uplift to use .NET Framework 4.7.2 as well as uplifting several DLLs. We have also taken the opportunity to uplift the application to use the WiX installer, the installer we use today with Pegasus Web Xchange and Opera 3 SE (Server).
Where MTDV is not in use, i.e. either the Start Date is in the future or the company is outside of the inclusion scope for MTDV, then the filing of the VAT100 will be the same as before i.e. updating using the VAT Online form and Pegasus Online Filing Manager.
To enable customers to enter their VAT return adjustments, a new VAT transaction type ‘J’ has been added. This will allow customers to define multiple VAT adjustment codes and specify which VAT boxes will be adjusted with full audit traceability. These adjustments can be processed in the VAT Return Adjustment posting routine – see below.
If you have any questions regarding the above, please do not hesitate to get in touch.