What is Making Tax Digital?
Making Tax Digital (MTD) is a UK government initiative that sets out a vision to transformed tax system by 2020.
HM Revenue and Customs (HMRC) states that the main goal of MTD is to make tax administration more effective, more efficient and simpler for taxpayers.
In July 2017, the government announced an amendment to the initial 2020 vision which meant, the first step towards the transformation and modernisation of tax is VAT.
From April 2019, companies who are VAT registered in the UK, with a turnover above the VAT threshold will be required to:
- keep digital records for only for VAT purposes
- VAT returns must have digital links to digital records
- VAT return submissions must be done digitally via HMRC’s Making Tax Digital APIs (Application Programming Interface).
MTD will involve significant changes to both process and technology and many organisations will suddenly find their existing process will no longer be complaint.
Here at Atos UK& I we can help prepare your business be MTD ready with process and technology support.
Process: We can help your business review its current business process feeding VAT reporting, design & agree the right process to capture VAT information digitally
Technology: we can advise on the most appropriate system changes required to implement our tailored MTD solutions and link your SAP instance directly to with HMRC using API
Why choose Atos for MTD for VAT
Atos has kept pace with every change in SAP as a technology for over three decades.
Combining a rigorous industrial approach with world-class innovations and a deep understanding of the sectors we serve, Atos speeds up time-to-market, enabling you to deploy winning applications with confidence.
Atos SAP bespoke MTD solution provides a cost-effective choice to managing indirect Tax. Our package solution comes with a competitive pricing model.
First direct SAP ECC integration solution to be approved by HMRC
Our solution is all in SAP so it’s simple and you won’t need any other software or portals
Solution Director- SAP Financials
Follow or contact Toni:
Senior FICO Consultant