Financial management software

Making Tax Digital Software

Our MTD VAT software, Access Digital Tax, is an application recognised by HMRC.

Ensure that your business is compliant in its income and corporation tax returns, and enable secure data transfer from your finance software.

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Organisations see greater efficiency and productivity as a result of Making Tax Digital

What is Making Tax Digital?

Making Tax Digital (MTD) is a system from HMRC that has transformed the UK tax system, making it fully automated, digital and online based.

There is now a requirement for all VAT registered businesses to digitally record and submit tax returns online, and to ensure that the digital journey of data from accounting and invoicing systems used in the process of filing your return, remains uninterrupted.

This is completed using Making Tax Digital software like Access Digital Tax, our application designed in close conjunction with HMRC; as part of powerful core accounting software that brings together all your accounting and financial operations into one place, such as Access Financials.

Accurate - the digital system is designed to make tax returns as accurate as they've ever been thanks to the online based system.
Automated - with the ability to enter tax details throughout the year, when the time comes to file your return, it can be done at a glance.
Automatic - with fewer errors and miscalculations, filing and processing will be done in as close to real-time as possible.

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Benefits of Making Tax Digital software

HMRC's ambition is that a digital tax system will make it easier for businesses to get their tax right.

Reducing the number of avoidable errors will also reduce the cost, uncertainty and worry that businesses face when HMRC is forced to intervene.

Access Tax Digital can help to ensure quick and easy VAT returns. Using MTD software is the only way to comply with HMRC's digital requirements, so it makes sense to choose a platform that has all of the features you need to manage your tax and finances.

Spread the burden - alleviate the stress and decrease the pressure on end-of-the-year tax filing by processing and filing throughout the year via Access Making Tax Digital Software.
Fewer errors - encounter fewer surprises as you can calculate as you go, check whenever you need to, and eliminate the risk of an unexpectedly high tax bill by using the Making Tax Digital software.
Completely digital - by producing and storing all your records digitally you get immediate access allowing you to view, review and check all your VAT data with ease.

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Who needs Making Tax Digital VAT software?

Making Tax Digital is mandatory for all VAT registered businesses.

MTD has been mandatory for VAT, income and corporation tax returns since 2020. Furthermore, data transfer between software, products or applications such as accounting and invoice systems used during the process of filing your VAT return to HMRC, must now be executed using a digital transfer or “digital link”.

If you are already using one of Access’ suite of applications, like Dimensions or Access Financials, the transition is very smooth. If you’ve yet to make use of our digital finance software, don’t worry, Access can help you every step of the way.

Beyond compliance: the opportunity for UK business

A move to online finance is the perfect opportunity for CFOs to lead the debate and encourage senior management to take a broader perspective – one that turns this regulatory burden to the business’ advantage.

Those who act could see greater efficiency and productivity as a result of Making Tax Digital, driving both business growth and profitability.

In this whitepaper, we’ll dive into some of the opportunities available and what they mean for business.

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Access Suite

Access Digital Tax is delivered through the Access Workspace platform and works seamlessly with Access Financials.

Connect

If you already have a digital account with HMRC, Access Digital Tax can connect with it, streamlining the process even more.

Always prepared

Access Digital Tax can be accessed as and when you need it, so you can update and modify as you see fit.

Do I have to use Making Tax Digital for VAT returns?

You must use the Government gateway to submit your VAT returns. Most modern software has this built in, but you can use custom spreadsheets and manually process it through the Gateway.

How does Making Tax Digital VAT work?

Your accounting software should be able to use an inbuilt MTD facility to submit via the Government Gateway, if your software is non-compliant you can use 'bridging' software to enter manually or your accountant can help you.

What is Making Tax Digital bridging software?

Making tax digital bridging software allows you to enter information into a basic front-end package and submit your VAT return into the Government Gateway, usually used if your accounting software does not have MTD facility.

Book a demo of our Maxing Tax Digital software today.

What you need to do

Already using Access software? The first step you should take is to speak to your Account Manager. Not using Access software yet? If you are keen to find out more about how Access Financials or Access Digital Tax can help you manage your MTD responsibilities, contact us to speak to one of our experts.

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