What is changing?
Making Tax Digital, the Government initiative to digitise and streamline tax reporting processes comes into effect from April 2019. Key benefits for businesses include improved visibility over their tax situation and easier access to tax information online; enabling businesses to plan and budget more effectively, driving performance and growth. From April 2019, businesses that are registered for VAT and have turnover above the VAT registration threshold of £85,000 will be required to keep digital records for VAT purposes and submit their VAT return to HMRC through functional compatible software.
What are Touchstone doing to help you comply?
Touchstone FMS are working with our business partners, Professional Advantage, to provide a solution for our Infor SunSystems clients. Professional Advantage is developing a HMRC compliant solution called MTD for Infor SunSystems. The module is based on their successful BAS Interface developed for the Australian Tax Office and with a proven track record since its launch in 2000. You can be confident that MTD for Infor SunSystems will provide the necessary digital link between your SunSystems solution and HMRC. The target date for the MTD module to be released is around mid-October, this gives users plenty of time to install, configure and test the software ahead of the April 2019 deadline.
What do you need to do next?
For more information and to place your order, please visit the Professional Advantage (PA) site where you can download and complete an order form which should be returned to your account manager or sent to firstname.lastname@example.org.
Please also note, a minimum of 2 days of consultancy time will also be required to install and configure the module, this can be ordered at a later date from Touchstone.
If you have any questions or queries regarding this module or its functionality, please see the resources available below, or contact your account manager at Touchstone.
HMRC Overview of Making Tax Digital
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