As technology advances, so too does the reality of tax authorities wanting to drill into an organisation’s indirect tax processes to assess its compliance and controls. Failure to comply with tax legislation and demonstrate adequate controls can have a range of consequences, including penalties levied by authorities. Having end-to-end value-added tax (VAT) compliance software for […] … Read More
We can certainly agree that 2020 has been a roller coaster of a year so far. Every customer we speak with has their foot to the floor, and our own teams are working very hard helping customers get the best from ONESOURCE Indirect Tax. It’s not often we get to grab a few minutes to […] … Read More
According to the European Commission, EU countries lost an estimated €140 billion in value-added tax (VAT) revenues in 2018. It’s an astounding amount of money, yet through the introduction of digital tax reporting, many tax authorities have started to make positive inroads into recouping VAT payments from businesses. Whether these VAT losses are down to […] … Read More
There are several reasons why businesses may have stalled their deployment of technology solutions for HMRC’s Making Tax Digital (MTD) for VAT. Firstly, the deadline was extended to April 2021 and then the unimaginable happened when COVID-19 struck. However, HMRC has been very clear that there will be no further extensions to MTD for VAT. […] … Read More
Which tech makes an accountant tick? Whether you’re a fan of Echo Dot, know your AI from your APIs, see where your fellow accountants sit on the tech spectrum. Throughout 2018, we’ve been speaking with UK Accountants in practice to find out what tech makes them tick, and how it has influenced their success. … Read More
Survey by Thomson Reuters finds 96% of accountants expect technology to change their role within the next ten years. LONDON, Tuesday 4th September, 2018 – Accountants forecast significant technological and business model change within the profession by 2028 according to new research from the Tax Professionals business of Thomson Reuters, the world’s leading source of […] … Read More