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.

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MTD

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 2018

    Pilot Program

    SAP Business One team starts pilot API testing with HMRC

  • September 2018

    Demo to HMRC

    HMRC/SAP Business One pilot test project continues and development in progress

  • Autumn

    Preview Program (Beta)

    Selected SAP Business One customers and VAT registered to join trial program

  • December 2018

    Release for Customers

    SAP Business One 9.3 PL08 to contain key enhancements for MTD readiness

  • April 2019

    MTD Deadline

    VAT registered and above VAT Threshold (£ 85,000) filed online

VAT Return with SAP Business One

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

    Automated end to end VAT reporting process from single solution

  • Supports direct submission of VAT return to UK HMRC via HMRC’s API standard

    Supports direct submission of VAT return to UK HMRC via HMRC’s API standard

  • Stay compliant on time, through easy adoption of legal changes

    Stay compliant on time, through easy adoption of legal changes

  • Monitor legal reporting status with a dashboard

    Monitor legal reporting status with a dashboard

  • Digitised storing of transactions and records in different places and digitised transfer between the source systems

    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.

Lets Get Started!

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