According to the European Commission, EU countries lost an estimated €140 billion in value-added tax (VAT) revenues in 2018. It’s an astounding amount of money, yet through the introduction of digital tax reporting, many tax authorities have started to make positive inroads into recouping VAT payments from businesses. Whether these VAT losses are down to […] … Read More
There are several reasons why businesses may have stalled their deployment of technology solutions for HMRC’s Making Tax Digital (MTD) for VAT. Firstly, the deadline was extended to April 2021 and then the unimaginable happened when COVID-19 struck. However, HMRC has been very clear that there will be no further extensions to MTD for VAT. […] … Read More
The final deadline to be ready for HMRC’s Making Tax Digital (MTD) for VAT is rapidly approaching in April 2021. Perhaps you are only looking to comply by updating processes and digitalising the transactions needed that add up to make your UK VAT returns. However, many companies are choosing to take a longer-term view and realise that this is […] … Read More
If you had been working toward meeting the requirements of HMRC’s Making Tax Digital (MTD) for VAT deadline in April 2020, then you were probably relieved when it was postponed to April 2021. We’ve all spent this year trying to manage our way through the global pandemic, both personally and professionally, so having one less thing […] … Read More
We’re almost half-way through 2020 and what a year it’s been so far. While many businesses have spent months and, in some cases, years trying to digitally transform their operations and practices, COVID-19 has acted as an accelerant like no other, forcing companies, willingly or not, into the 21st century. Business leaders and managers have […] … Read More
We’ve talked at length about why you need to transform your financial practices. We’ve shared some stark reminders of other’s mistakes to help you communicate to your leadership team why you absolutely need to change your current behaviours and processes. So, the big question remaining is how do you centralise, standardise and automate practices across […] … Read More