Wolters Kluwer’s bridging tool for MTD for VAT now live for customers
Wolters Kluwer’s VAT filing solution for Making Tax Digital (MTD) within CCH OneClick is now officially live for all CCH OneClick customers. HMRC’s intuitive to digitise the tax system will launch in April 2019 and our customers can approach the deadline with confidence.
Developed alongside ongoing consultation with our customers, CCH OneClick ensures that accountants can continue to use many of their processes they use to file their returns today.
During the consultations with its customers, practices shared the same the following concerns:
- How they’ll manage their clients’ data via various bookkeeping services and the time implications.
- How practices can continue to offer their clients choice on how best to submit VAT for their business
- How practices can continue to use spreadsheets to do the final adjustments before uploading the data to HMRC.
All these concerns are easily solved by using Wolters Kluwer’s VAT filing solution. Here are the four ways it can make complying with MTD for VAT a breeze:
- CCH OneClick supports multiple bookkeeping products meaning that your team can have an overview of their clients’ data regardless of which bookkeeping service they use, saving them valuable time.
- At present, once the VAT data has been collected, many accountants export it to a spreadsheet to make the final adjustments. By using CCH OneClick, this process can continue. Once the final adjustments have been made, spreadsheets can be uploaded to the API-enabled software which will automatically source the data necessary and transfer it to HMRC.
- In CCH OneClick, team members can set up automatic alerts for data to be input into the system, speeding up the onerous steps of the process. The software also allows team members to have live overview of current status of all the VAT cases in one glance.
We have been overwhelmed by the positive feedback from our early adopters that have already made VAT submissions using CCH OneClick as part of HMRC’s MTD pilot. Tony Hyde of Newby Castleman was keen to share his experience of using the VAT toolset within CCH OneClick.
“We have been working with CCH OneClick as part of the MTD pilot and have been hugely impressed with how easy it was to get up and running. I was particularly impressed with how straight forward the actual process of filing a VAT return was using CCH OneClick. Added to this, the dashboards within CCH OneClick allow me to monitor the progress of our VAT clients and having access to information such as the Digital VAT Account means CCH OneClick provides me with a complete Making Tax Digital for VAT toolset.”
Next on the development agenda
The next enhancement to the MTD for VAT toolset will be client-side VAT filing from within the client workspace within CCH OneClick. The CCH OneClick client workspace will enable your clients to submit VAT returns, providing them with the choice to continue using their current VAT processes that may involve the use of a spreadsheet.