Automated HMRC-Compliant SAP MTD for VAT

Mandant can offer a fully automated HMRC-Compliant SAP MTD for VAT service, with a simple annual subscription.

There are many times when the UK government is accused of being behind the curve, but when it comes to tax it’s well ahead of the game. HMRC has an ambition to become one of the most digitally advanced tax administrations in the world. The eventual benefits of its Making Tax Digital (MTD) scheme are twofold – accounting errors will be minimised, while businesses should find it easier and more efficient to file their returns.

The first stage of MTD was introduced by HMRC in April 2019. For now, it is only VAT returns that must be recorded digitally and submitted using the new service. However, it is likely that Corporation Tax will also need to use the new system from 2021.

This is a huge change for business. Returns must be submitted using MTD-compatible software, so the task of training personnel and upgrading existing accounting software are both areas for concern.

One solution is the SAP ACR (advanced compliance reporting) Service. This cloud-based solution is a neat option for some businesses, but it does involve manual intervention – first in order to retrieve VAT data from the SAP system, and then again in order to submit the return to HMRC, and given this is a SAP solution, it’s also not going to be the cheapest.

Mandant can offer an alternative SAP solution – one that provides guaranteed performance and 24/7 support for a known annual subscription and based on standard SAP functionality. Using Mandant’s proven MATRIX Cloud Integration Platform, all VAT returns are easily submitted directly from a SAP ECC system (or SAP S/4 HANA) using existing standard SAP transactions.

MATRIX is a trusted platform that has been successfully used by many SAP customers for many years in order to submit payroll PAYE data. We have a flexible pricing model that can be tailored to suit your business systems and budget.

As well as high levels of security and encryption, MATRIX will allow your business to submit VAT returns in a streamlined and hassle-free way – both now and in readiness for future HMRC changes.

If you’re interested in finding out more about the MATRIX Making Tax Digital solution for SAP call us now on 0870 870 6767 or click here to request a call back or arrange a demo on a date and time to suit you.