As of April 1st, 2019, VAT-registered businesses above the threshold of £85k must archive their VAT books in a digital format and send them to HM Revenue and Customs (HMRC) via API electronically and without any manual intervention. This report must be filed to the HMRC every quarter. However, businesses can send their VAT reports more often as a way of having a better accounting control.
Meet ProboVAT! A powerful, state of the art compliance system that will revolutionise the way you undertake VAT compliance
ProboVAT is a comprehensive, simple and easy to use system to undertake quick, effective and regular VAT compliance through a single window. ProboVAT seamlessly integrates with your accounting software and imports VAT transactions. The transactions are categorized and analysed by ProboVAT based on certain pre-defined parameters. Any discrepancies in the transaction level data is identified by ProboVAT and prompted as alerts which can be rectified by the user immediately. Changes made to VAT transactions on ProboVAT are automatically updated on the accounting software. Once rectified, users can generate and submit the VAT return electronically directly to the HMRC website through ProboVAT.
