The digital transformation of tax, accounting, and financial management is no longer optional. This transformation is most visible in the adoption of electronic invoicing (e-invoicing), a critical shift reshaping the financial landscape of businesses worldwide. The rise of e-invoicing According to a recent study run in partnership with Accountancy Age, 134 organisations were surveyed, 83.8% of […] … Read More

People who purchase software rarely get to talk to the product’s developers about the development process or the features and updates users can expect in future iterations of the product. But that’s precisely what happens at the Thomson Reuters annual Synergy conference, where product developers, software engineers, and other representatives from the company gather with users […] … Read More

The HMRC’s Making Tax Digital (MTD) mandate was designed to simplify and expedite tax reporting, with advantages, according to their gov.uk website that include:   Making it easier for individuals and businesses to get their taxes right Allowing businesses to integrate tax management with a range of business processes through software Contributing to wider productivity […] … Read More

The mounting stress experienced by tax professionals related to the tax provision process is a double-edged sword. It can cause anxiety, but may also present tremendous opportunities, according to panelists for the Thomson Reuters webinar: _____________________________________________________________________________________________ “From compliance necessity to strategic advantage: How can you master the tax provision process?” _____________________________________________________________________________________________ “The tax profession, overall, is facing […] … Read More

The pace of change experienced by today’s tax departments feels unprecedented. And, amid this transformation, tax departments are facing a host of challenges, including growing complexity, talent shortages, and financial constraints. Yet, as challenging as the rapid pace of change may be, it doesn’t relieve tax firms of the responsibility to prepare appropriately. The good […] … Read More

The complexities of understanding and managing indirect taxes when doing business within the UK can be daunting. In addition to a plethora of ever-evolving domestic regulations and requirements complicated by Brexit, businesses in the UK must also consider challenges in complex areas such as customs and exports. Compliance becomes more challenging every year with tax […] … Read More