Unless you are Rip Van Winkel you surely cannot have escaped the rising tide on the digitalisation of tax by HMRC. They are looking to achieve the 21st Century solution to try and reduce the tax gap. The gap between what is paid to HMRC and what should be paid to HMRC is thought to arise for one of two reasons, either errors in records and calculation or malicious intent to defraud. Digitalisation of tax wont help the second but will surely aid the first.
But what does it mean for you? What if you are keeping good records on excel or your business needs mean that no software handles your VAT fully and it needs spreadsheet solution to finalise the VAT position? Well help is at hand! Kaara offers a neat solution that means you can keep working the way you want to work and not disrupt your systems.
Kaara offers the online interface to take your VAT result each quarter and deliver to HMRC in the format they require. Digitalisation is on its way with compulsory online filing from April 2019 for VAT. Get ahead of the curve and start to prepare now.