Last month, I provided an overview of our involvement in the Making Tax Digital (MTD) pilot to date, and the various streams of work we were undertaking to prepare. This month, I will cover an update on the progress, and why you should start thinking about engaging with clients, when the time is right. The pilot has […] … Read More
Last month, I provided an update on how Making Tax Digital (MTD) mandation in April 2023 may impact you and your clients. This month I will focus on what steps are happening at Thomson Reuters today to help prepare for the pilot. Onvio is our cloud product with capabilities around document management and collaboration, eSigning […] … Read More
The 2020 Self Assessment filing season was an unusual one. It started under lock down, with the challenges of remote staff working and receiving client information, and ended with a last minute extension. During it all, back in July, MTD (Making Tax Digital) mandation from April 2023 was quietly announced. At Thomson Reuters we have […] … Read More
How can manufacturers maximise VAT recovery with indirect tax automation software? Recovering as much value-added tax (VAT) as possible is a sound business practice for multinational manufacturing companies. VAT rates are typically much higher than the consumption tax rates in the US. For example, Hungary has a 27% VAT rate, the highest in Europe. VAT […] … Read More
Procure-to-pay (P2P) tax determination helps manufacturers reduce Value Added Tax (VAT) exposure and avoid wasting money through overpaid input tax Many manufacturers use a procure-to-pay (P2P) digital procurement system to help them extract the most value from their procurement spend. But they’re often overlooking a significant aspect of that spend: the rules around accounting for […] … Read More
Automate tax calculation and overcome the complexities that accompany your global footprint. For businesses of all sizes, calculating indirect taxes correctly isn’t just a matter of getting the maths right – it’s vital to the health of the organisation. Inaccurate tax calculations can be costly and can inhibit an organisation’s ability to plan, grow and […] … Read More