The digital links mandate is just around the corner. From April 2021, businesses will need to have converted their VAT process to a completely digital end-to-end operation. Manual practices such as cut or copy and paste will no longer be permitted.
The deadline also signifies the end of the soft landing and the onus will be on businesses to demonstrate their compliance. In the event of an audit, HMRC will want to see evidence of digital links.
To satisfy all these criteria you will need an MTD solution that does more than just link to your records. You need a platform that can verify the integrity of source data, track back changes all the way through to the transaction, and provide you with a linked digital audit trail that proves 100% compliance.
AlphaVAT gives you:
• Anomaly detection and error correction to improve accuracy
• Control mechanisms to document changes
• Source and tax data analytics to provide trend analysis and insight
• Fully automated, timestamped audit trails
To get compliant today, contact us for a one-to-one demo of our AlphaVAT compliance platform.