Making Tax Digital for Business (MTDfB) is a UK government initiative that sets out a vision for the “end of the tax return” and a “transformed tax system” by 2020. As a first step toward this transformation, businesses will be required to use the Making Tax Digital (MTD) system to meet their value added tax (VAT) obligations in 2019.
Beginning 1 April 2019, businesses whose taxable turnover exceeds the VAT registration threshold must begin keeping records digitally and create their VAT returns using MTD-compatible software.
Long term, MTD’s goal is to make tax administration more effective, more efficient, and simpler for taxpayers, but the transition to this new system could present challenges to your business. With less than a year to the filing deadline, organisations need a solution that is effective, affordable, and easy to implement, as well as one that helps with MTD VAT compliance requirements.
Because most UK VAT return preparation still takes place in Excel, Ryan’s Tax Technology team has developed an Excel-based MTD-compliant solution—Ryan MTD Bridge—that can be easily incorporated into existing processes and is recognised by Her Majesty's Revenue and Customs (HMRC). As an Excel-based solution, implementation is easy, can be completed quickly, and best of all, includes up to two hours of technical support in the already-low price of £1,500 + VAT.
With Ryan MTD Bridge, users can:
If you have any questions we can help with, please reach out to us via the contact form.