Tech-enabled VAT reporting is now a reality as tax authorities across Europe aim to close the VAT Gap. As a result, businesses need to comply with big-data driven collection and enforcement while adopting VAT technology.
Accordance believes in bringing together deep VAT expertise with the very latest in flexible and efficient technology. People are the heart of our business: so our people will ensure that you get the best from our VAT technology.
Read on to find out how we assisted our client to declare VAT submissions under Making Tax Digital(MTD) with our bespoke VAT technology software integrated into our expert-led compliance service.
Our client, a UK automotive company, required assistance declaring VAT submissions under MTD. They recently offshored some finance support roles creating a knowledge drain; consequently they were no longer able to submit the declaration without a high level of risk. Their business required our VAT Compliance service to prepare and carry out the data quality checks that they could no longer do in-house.
During an on-site visit to the client, our VAT Consultant, Project Implementation Manager and Account Manager reviewed the client’s processes established for declaring VAT submissions under MTD. In addition, we evaluated the controls in place to manage risk.
No Risk No Problem
Following our VAT review, we optimised the existing compliance process for submitting under MTD. The integration of bespoke VAT technology software into our Compliance services enables us to perform additional data quality checks reducing risk.
We successfully took over the entire VAT return filing process for the client in the UK. Since then, we manage three more domestic registrations for the client in addition to all of their Intrastat and European Sales reporting.
Interested in finding out more about how our services can benefit your business? Then contact us.