Making Tax DigitalStay compliant with our future-proofed MTD VAT software for corporations
Making Tax Digital VAT software
HMRC’s Making Tax Digital (MTD) has introduced significant new rules for how most corporations prepare and submit their VAT returns. MTD for VAT focuses on three key requirements:
- Digital record keeping – storing all transactions in electronic format
- 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
Thomson Reuters ONESOURCE Indirect Tax Compliance fully supports the requirements of MTD. It is an HMRC approved software package provider that allows you to keep digital records and submit VAT returns.
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.ONESOURCE Indirect Tax Compliance has supported nearly 150 businesses across their 4,800 UK VAT registrations to successfully file with HMRC 8,500 MTD compliant VAT returns to date. 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 MTD, VDEK, SAF-T and Spain’s SII.