The indirect tax landscape is undergoing a profound transformation, driven by the relentless pursuit of efficiency, accuracy, and strategic advantage. A recent Thomson Reuters webinar underscored the critical role of technology and automation in reshaping the indirect tax department. This blog looks at the key challenges faced by tax professionals and explores the emerging technological […] … Read More

Indirect taxes can be some of the most perplexing to calculate correctly the first time and filed correctly — especially when paired with HMRC’s Making Tax Digital (MTD) mandates for digital record keeping and reporting. While intended to simplify VAT across the EU, the MTD initiative has contributed to an additional amount of confusion around […] … 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

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

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