Mandant can offer a fully automated HMRC-Compliant 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 [...]

Making Tax Digital (MTD) for VAT came into effect from April 2019. Since then VAT registered businesses are required to keep their records digitally and submit their VAT returns to HMRC using software which is compatible with MTD for VAT. MATRIX MTD for SAP® solutions uses standard SAP® technology and, unlike any other solution, offers a completely automated, fully supported and maintained, HMRC compliant solution on a subscription model basis.   OPTION 1 Two stage manual process It is possible to use a SaaS cloud based solution on the Localisation Hub and the Advanced Compliance Reporting Service (SLH ACR Service) to compile the VAT return. This solution means a user will need to login to a cloud based SAP® application to retrieve the data from their [...]