AlphaBridge transforms the VAT reporting process, automating the population and submission of returns using Functional Compatible Software to integrate with HMRC systems.
MTD for VAT (MDTfV) will see the digitalisation of the VAT submission process. From April 2019, the majority of businesses with a turnover that exceeds the VAT threshold of £85,000, will be required to keep VAT records digitally and submit returns using MTD compliant software.
HMRC recently announced a MTD mandation deferral of 6 months, to 1 October 2019, for certain VAT business types. These businesses are currently unable to participate in the MTDfV pilot. The deferral affects VAT groups and divisions, businesses trading with the EU, those based overseas, businesses that submit annually, make payments on account, use the flat rate scheme or are newly registered for VAT.
By April 2020, digital links will need to be implemented for each step taken from the digital VAT record through to the return submission, transforming internal processes. AlphaBridge enables you to digitally submit VAT return data to HMRC and can be easily integrated into your current processes, resulting in a smooth transition to MTDfV.
AlphaBridge enables you to digitally submit VAT return data to HMRC. The solution utilises an Excel template for uploading the return data via digital links developed by Tax Systems. The data is then displayed in the AlphaBridge portal, ready for review and submission.
The AlphaBridge portal assists in monitoring VAT obligations through the use of a dashboard that includes a view of past, present and future MTD obligations together with any liabilities and payments.
AlphaBridge has been specifically developed for MTD for VAT and has undergone extensive testing with HMRC.
Delivers a cost-effective MTD compliant bridging solution
Provides an easy first step in the MTD compliance journey
Gives customers the choice to transform a step at a time
Requires limited changes to systems and processes
Facilitates the continued use of return preparation spreadsheets
Provides a dashboard view of MTD submissions, payments and liabilities
Can be rebranded to your firm or corporate livery