Making Tax DigitalStay compliant with our future-proofed MTD VAT software for corporations
Making Tax Digital VAT software
Making Tax Digital (MTD) is shifting focus to VAT reporting from April 2019 and introduces significant new rules for how most corporations will submit their returns. MTD for VAT focuses on three key requirements;
- Digital record keeping – storing all transactions in electronic form
- Digital links – having a digital link between final numbers and source data
- Digital submissions - all submissions must be made using appropriate software via HMRC’s new gateway
Find out more about the impacts of Making Tax Digital for VAT in our recorded webinar.
Thomson Reuters ONESOURCE Indirect Tax Compliance fully supports the requirements of MTD. We are working closely with HMRC through their pilot period in the lead up to the new rules coming into effect in April 2019.
ONESOURCE gives you much more than simply being compliant with MTD. ONESOURCE also delivers significant process improvements and robust risk management – giving you full confidence in your VAT operations for MTD and any future regulations.Download brochure
How ONESOURCE transforms your VAT process
ONESOURCE gives you the tools to easily upload & adjust source data, calculate your return & electronically submit to HMRC, supported by a full audit trail and comprehensive reporting. Accessible anywhere anytime via a browser, hosted in highly secure data centres.
Greater Control & Insight
Risk management controls across all functions, enabling review and sign off of processes. Drill through from return box numbers down to transactional level data and back..
Confidence in your Compliance
Tax rules and legislation are kept up-to-date by Thomson Reuters inhouse tax research team. Being a cloud based solution you can rest assured you are always accessing the latest legislation.
Simplifying Data & Process
ONESOURCE integrates data from multiple sources and organises it in a common, structured method with a consistent and repeatable process. Plus, the web-based user interface optimises productivity and teamwork.
Platform for Growth & Evolution
With VAT compliance & filing in over 50 countries ONESOURCE can support your process transformation and company growth at a pace that suits you. As the move towards digital tax continues to evolve ONESOUCE has you covered for the future, already supporting new mandates such as SAF-T and Spain’s SII.