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Recent legislation by HMRC require organisations with a turnover of over £85k to keep their records digitally and to submit VAT returns digitally to the HMRC via API’s. CGI have developed a fully integrated solution that simplifies submission process, streamlines the communication and is recognised by HMRC.

Making Tax Digital (MTD) is a key part of the UK Governments initiative to transform HMRC into a world leading digital tax authority. MTD requires qualifying VAT registered organisations to:

  • Keep and maintain records digitally
  • Records are to be kept within functional and compatible software
  • Have the ability to send information to and receive information from HMRC via Application Programming Interface – API’s
  • Becomes legal requirement on April 2019 but certain types of organisations have been granted a 6-month extension

CGI have developed the MIH (Making Tax Digital Integration Hub). The CGI-MIH fully integrates to your SAP system and ensures compliance to HMRC standards and has been recognised by HMRC.

Our solution simplifies the setup of the organisations MTD registration, information collation for VAT returns and submission process. A set of transactions have been developed to allow you to:

  • Set up your VAT credentials in SAP to allow your organisation to communicate directly with HMRC from your SAP system without the need for bridging software
  • Receive the latest VAT obligations from HMRC
  • Collate all the transactions held in SAP that make up these obligations
  • Present information in a clear and concise format
  • Make manual adjustments
  • Submit the final submission of the VAT return to HMRC

We will work with your organisation to understand your current VAT business process; we will look to help you streamline your VAT preparation processes as part of the implementation of the CGI-MIH. This will deliver a fully integrated solution that adheres to best practice and is compliant to HMRC VAT standards

KEY BENEFITS

CGI-MIH provides your organisation with a solution that:

  • Fully Integrates to your SAP System
  • Is compatible to the MTD Standards
  • Is recognised by HMRC
  • Simplifies the overall VAT Processes
  • Develops a separate set of tables to hold the VAT obligation values
  • Provides line item reconciliation
  • Allows multiple adjustments to be entered and recorded
  • Provides data transparency and is fully auditable
  • Allows segregation of duty during the creation and submission process
  • Is developed in CGI’s own SAP namespace so will not have any impact on future upgrades or service packs
  • Accelerates implementation
  • Does not require any additional licences
  • Has a one off implementation cost

Contact us for more information or to speak with a CGI MIH expert.

Download the brochure