[Infographic] Making Light Work of Making Tax Digital

Jeroen Wensveen
November 8, 2018

In December 2015, Her Majesty’s Revenue & Customs (HMRC) in the UK produced its Making Tax Digital (MTD) roadmap, the pathway by which it would reach its ambition “to become one of the most digitally advanced tax administrations in the world.”

MTD becomes a reality on 1 April 2019 for all VAT registered business with a taxable turnover above the threshold of £85,000.  Businesses will need compatible software that meets the specification requirements to handle the VAT return files, demonstrate a clear electronic audit trail and connect to the HMRC systems through an Application Programming Interface (API).

The Sovos VAT Reporting Cloud solution is MTD-ready and ensures a seamless digital journey for all UK and international VAT filings.

Download the infographic

Download the infographic and get up to speed with MTD.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Jeroen Wensveen

As Principal of Indirect Tax Solutions at Sovos, Jeroen is responsible for building out and managing the VAT line of products and solutions available on the Sovos Intelligent Compliance cloud platform. Jeroen is a tax lawyer with over 20 years of international VAT experience, beginning his career as a consultant for PwC before serving as VAT director for Rockwell Automation, a global leader in industrial automation. Jeroen also co-founded VAT Resource, a successful VAT services and technology company, that was acquired by Sovos in 2014. Jeroen holds a master’s degree in tax law from the University of Leiden, The Netherlands.
Share This Post

Colombia E-Invoicing Compliance LATAM
May 24, 2019
Colombia DIAN UBL 2.1 E-invoicing Mandate Reminds SAP Shops Why Compliance Matters

Colombia’s new electronic invoicing mandate serves as another reminder to SAP that compliance has to be at the heart of digital transformation efforts and migrations to SAP S/4HANA. The South American country, following the lead of Latin American neighbors Brazil and Mexico, is moving from a reporting e-invoicing model to a clearance model. Effectively, that means […]

Tax Information Reporting United States
May 24, 2019
TIGTA Audit Highlights Gaps in IRS Withholding Controls

The Treasury Inspector General for Tax Administration (TIGTA) reported results of a recent audit of the IRS internal controls in place to ensure that the withholding reported on information returns (i.e., Forms 1099) is accurately reflected on Form 945, Annual Return of Withheld Federal Income Tax, and that those amounts were paid to the IRS. […]

EMEA IPT
May 23, 2019
Key Reporting Considerations for Insurers Writing Insurance Across the EU

Freedom of services insurers are faced with a number of different obligations when entering new territories and writing insurance business within the European Union.  One that may initially be overlooked relates to which policy details are required to be recorded and then reported to the tax authorities.   It is essential that all insurance premium […]

E-Invoicing Compliance EMEA
May 23, 2019
Europe Embraces Digitized Invoices but Country Specific Requirements are Diverse

Based on the Billentis report of 2019 (The E-invoicing Journey 2019-2025), automated e-invoicing will generally result in cost savings of 60-80% compared to conventional paper format invoices. In this age of digital transformation, optimizing invoice flows is top of corporate agendas for most companies to improve efficiencies and reduce operating costs. And many companies want […]

Colombia E-Invoicing Compliance
May 22, 2019
Colombia anuncia el nuevo modelo de validación previa y el protocolo UBL 2.1 para su mandato de facturación electrónica

La autoridad fiscal de Colombia, DIAN (Dirección de Impuestos y Aduanas Nacionales), ha anunciado nuevos cambios a su mandato de facturación electrónica que serán implementados según la Resolución 020, orientada a las empresas que aún no han adoptado este modelo de facturación. Quienes ya son facturadores electrónicos deberán implementar el nuevo modelo antes del 2 […]