This automation of HMRC submission not only helps in streamlining the whole VAT returns process but also help in avoiding duplication of data that HMRC already has. Post this automation there will not no waiting time for year end or specific period for real time data as HMRC will collect and process information as real-time as possible.
MTD implementation will enable businesses to have a better visibility over their input and output tax calculation.
This MTD solution can be implemented through SAP Localization Hub – Advance Compliance Reporting which runs on the Neo Environment of SAP Cloud Platform. SLH-ACR is a SaaS delivery that helps organizations with VAT computations.