Make Tax Digital (MTD)
Become one of the most digitally advanced tax administrators in the world with SAP Business One
What is MTD
(Make Tax Digital)?
The MTD for VAT comes into force from April 2019 for businesses with a turnover above the VAT threshold of £85,000 and is made optional for businesses below that threshold.
If your business falls under the mandatory category, you will have to maintain digital records and use HMRC authorised software for VAT submissions going forward.Read More
Advantages of going digital with SAP’s Harmonised solutions are to boost transparency and accuracy of your tax management process.
SAP Business One Version Release for Customers
June 2018Pilot Program
SAP Business One team starts pilot API testing with HMRC
September 2018Demo to HMRC
HMRC/SAP Business One pilot test project continues and development in progress
AutumnPreview Program (Beta)
Selected SAP Business One customers and VAT registered to join trial program
December 2018Release for Customers
SAP Business One 9.3 PL08 to contain key enhancements for MTD readiness
April 2019MTD Deadline
VAT registered and above VAT Threshold (£ 85,000) filed online
VAT Return with SAP Business One
With SAP Business One for advanced compliance reporting, you can:
Monitor your legal compliance reporting on a global scale through a single, unified dashboard – and get full audit traceability.
Use flexible business rules and an extensible report design environment to comply with constantly changing legal requirements.
Support on-time global compliance with multiple legal reporting formats and direct submission to regulatory authorities.
Benefits that SAP Business One solution provide for MTD
Automated end to end VAT reporting process from single solution
Supports direct submission of VAT return to UK HMRC via HMRC’s API standard
Stay compliant on time, through easy adoption of legal changes
Monitor legal reporting status with a dashboard
Digitised storing of transactions and records in different places and digitised transfer between the source systems, enabling the digital link as outlined by HMRC
Embark on transformational change and improve your current processes by making compliance more efficient.