Group Making Tax Digital

Group Making Tax Digital

On 1st April 2019, the HMRC ‘Making Tax Digital’ scheme came into effect. Making Tax Digital requires all company tax and VAT to be reported electronically. Groups had until 1st October 2019 to start using Group Making Tax Digital compatible software to send their VAT returns to HMRC.

As a result, you are now required to keep digital records from the start of your accounting period using Group Making Tax Digital compatible software. If you don’t currently use accounting software, or your software is not compatible with the requirements for Group VAT reporting, you’re in the right place.

Group VAT bespoke software solution

If you operate a group company, you will be required to consolidate your VAT records and report these electronically to HMRC, and all relevant VAT records must be included in the submission.

We know it may seem daunting to change the accounting process you are used to work with. With this in mind, Brookland Solutions has created a bespoke solution for Group VAT reporting in order to make the submission process straightforward.

The software includes the following features:

  • Consolidation of VAT figures into one overall figure required by HMRC

  • Ability to pull information from various accounting programmes

  • Direct report submission to HMRC from Dynamics NAV or Dynamics 365 Business Central

  • Visibility into VAT obligations to ensure deadlines are not missed

Our Group Making Tax Digital software is supported in all versions of Microsoft Dynamics NAV and Dynamics 365 Business Central. If you are not already a Dynamics user but you are interested in implementing the solution in your business, we can help! Brookland Solutions specialise in the implementation of Microsoft Dynamics solutions, as well as consultancy, training and support services.

Keen to learn more about our Group Making Tax Digital solution?

Get in touch today to get started.