Is Making Tax Digital for VAT an Accounts Payable Issue?

On the 20th November 2018 ITESOFT hosted a webinar focused on the latest legislative change to impact on Accounts Payable, Making Tax Digital for VAT and asking whether this is an Accounts Payable Issue.

“Making Tax Digital for VAT requires VAT registered businesses with taxable turnover above the VAT registration threshold to keep records in digital form and file their VAT Returns using software.” – Making Tax Digital Explained.

What Does The Notice Say?

We will start this webinar by taking a closer look at what this legislation actually asks of business, what changes are necessary to ensure compliance and avoid any associated risks.

After looking at some of the broader parts of the legislation we will be drilling down into one key part of the legislative notice, this is the element that directly involves and impacts on an Accounts Payable team.

This particular section includes information relating to the life cycle of an invoice and its associated data, hence being of particular interest to us.

What Are The Impacts?

Following a look at the notice, we will be exploring some of the potential impacts of this on organisations, based on some specific examples of processes that are highlighted in the notice.

Asking attendees how they are currently managing their AP processes, we will highlight some potential areas of risk or conflict that could result in failure to comply.

This will include a look at some worse case scenarios, and a look at what can be done to mitigate against these risks.

Global Tax Trends

The final core segment of the webinar will be looking at some of the global trends that are appearing in VAT submissions, including the estimated VAT gap across Europe.

We will also spend some time considering how Clearance processes are starting to spread across Europe, with some nations already adopting them, such as Portugal and Italy.

FAQ’s

ITESOFT’s webinar will close with FAQ’s about the legislation, that we simply could not include in the core of the presentation, and answers to any questions posed by attendees.

If you are planning on joining us for the webinar, and you already have questions about it, please feel free to ask us in advance, you can send these directly to me, as the presenter on the day at: john.stovold@itesoft.com

Any questions that we are asked will remain anonymous.

Of course, copies of the slide deck and the webinar recording will be available online after the event. This will include various links to key articles and information for further reading.

We look forward to greeting you on the day.

 

Watch the Webinar Replay Today!

Webinar Replay: Making Tax Digital for VAT

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Post by John Stovold,
Marketing Manager ITESOFT

John Stovold has worked at ITESOFT since 2012. Driven by a desire to learn and educate John has used this to set himself up as a true thought leader in digital transformation of Accounts Payable and Finance. John really isn't that keen on writing in the 3rd person... But will when he has to.

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