Making Tax Digital
Are you ready for the legislation that comes in to effect on April 1st this year?
Thankfully Calidore's customers have nothing to worry about as we offer a fully integrated unified solution, all data is held digitally and all ledgers are linked, making the submitting of VAT returns a simple, straightforward, single process.
We are HMRC approved
Making Tax Digital
All of the rules pertaining to HMRC's for Making Tax Digital can be found here
The Making Tax Digital rules apply from your first VAT period starting on or after 1 April 2019. A ‘VAT period’ is the inclusive dates covered by your VAT Return.
It is increasingly common for business records and accounts to be kept digitally, e.g in Calidore's POWER-Gx back office system and stored on your local server or in Calidore's state-of-the-art Data Centre. The difference under Making Tax Digital is that the software which businesses use must be capable of keeping and maintaining the records specified in the HMRC regulations, preparing their VAT Returns using the information maintained in those digital records and communicating with HMRC digitally. Thankfully Calidore's customers have nothing to worry about as we offer a fully integrated unified solution, all data is held digitally, and all ledgers are linked making the submitting of VAT returns a simple, straightforward, single process.
Having a single digital solution for your entire business means there is no ambiguity between your order processing and your accounts system thus ensuring you are totally compliant with the digital requirements of HMRC, and eliminating possible mistakes from maintaining more than one system.
Our software will collate and prepare your return for you. It will then show the return to you and ask you to declare that it is correct and confirm that you want to submit it to HMRC. Once you have submitted your return you will receive confirmation that it has been received.
Your VAT obligations are controlled by HMRC and are fed directly in to our back office system. As well as accessing and collating your current return you have access to all previous returns, made since April 1st 2019, for review should you ever need access to the information, e.g. for an audit.