Tax Automation & the Lockdown

The COVID-19 crisis has illuminated the importance of technology, spurring businesses on to digitalise their tax processes. It’s no longer just about meeting the compliance mandates laid down by HMRC under MTD. Now there’s an awareness that tax is a core business function that needs to be de-risked and brought under tighter control. So how have things changed and what are the new priorities? We bring you insights into:

  • The economic implications of the lockdown to 2021 and beyond

  • The steps HMRC may take to address the £337bn deficit

  • The impact on MTD Phase 2 digital links

  • Market insights from surveys with Accountancy Age and Taxation magazine into:

          - Changing attitudes to automation

          - Key drivers behind digitalisation

          - Why now is the optimum time to develop a digital first strategy

  • The new must-have: Advanced Data Diagnostics

  • Automation in action: A LIVE demo of AlphaVAT 

Demystifying Digital Links 2021

Wondering what the implications are of the delay to MTD phase 2? Are you now considering pausing or reconsidering your strategy for implementing digital links? In this webinar we look at how the delay could enable you to embrace automation and gain long term benefits. We bring you with the latest information on:

1. The deferral to April 2021. The implications of the changes, HMRC’s guidance during the extended soft landing period and how reporting periods will now fall
2. What is a digital link? The mandatory requirements, who is affected and when, what is and isn’t allowed

3. Five Pitfalls: What to watch out for including management of amendments and adjustments, data collection and errors
4. Your options for compliance: The pros and cons of each of the four options put forward by HMRC and why they aren’t mutually exclusive
5. Getting the most out of digital linking/tax automation: Learn how to…

  • Set up digital links and create digital audit trails

  • Verify data integrity and be alerted to errors

  • Automate calculations such as reverse charge, domestic reverse charge and how to block and exclude transactions

  • Address manual processes/adjustments 

  • Deal with future complexity around areas including: Partial Exemption and Group Consolidations 

… using the AlphaVAT fully compliant MTD solution

6. Future proofing compliance: The opportunities afforded by a scalable digital link solution versus basic compliance such as more reliable data, increased accuracy, reduced spreadsheet dependency, better auditing, and greater efficiency.

Please register you interest by filling in the form below and selecting the webinar you wish to attend.

Advanced MTD for VAT

Are you a business which uses spreadsheets for your quarterly VAT reporting? Do you have VAT groups or perform complex calculations? If so, you may be interested to know automation can help you improve your VAT processes, saving time and increasing accuracy. This webinar will reveal how you can:

  • Increase efficiency – Learn how one customer with 18 VAT entities reduced the time dedicated to VAT processing by 104 days per annum

  • Reduce risk – By demonstrating compliance with the Systems and Delivery requirement under the new Business Risk Review (BRR+) introduced by HMRC in October 2019

  • Tackle errors – By reducing manual data manipulation and dependency on spreadsheets, 90% of which contain errors 

  • Automate complex calculations – Such as group consolidation, capital goods schemes, the reverse charge, and partial exemption (standard and special method) 

To discover how a compliance engine can help you get the most out of digitalisation, please register you interest below and select the webinar you wish to attend.