Tax & Accounting Blog

Innovation strategies to meet the challenges of indirect tax

Innovation strategies to meet the challenges of indirect tax

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

Making Tax Digital (MTD) for VAT:  What does it mean for you?

Making Tax Digital (MTD) for VAT: What does it mean for you?

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

Are you ready for tomorrow’s Direct Tax, AI, and technology developments?

Are you ready for tomorrow’s Direct Tax, AI, and technology developments?

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

Global business challenges of tax and trade compliance in 2024

Global business challenges of tax and trade compliance in 2024

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

Modernising tax management in an omnichannel retail landscape

Modernising tax management in an omnichannel retail landscape

Tax professionals involved in omnichannel retail industries face an unprecedented number of challenges these days. Calculating sales tax across different retail channels is complex due to various regulations, frequent changes in product data, and outdated systems, especially with increasing sales volume and shrinking budgets. These issues and more were discussed by tax and trade experts in a […] … Read More

How to save money in your supply chain

How to save money in your supply chain

Maximising supply chain efficiency and minimising costs while managing compliance is a perpetual balancing act for companies as they navigate global trade. Compliance is often seen as a cost center as companies seek to mitigate risk. However, if approached strategically, engaging with the opportunities afforded by the modern regulatory landscape can help companies save money. […] … Read More