• Making Tax Digital

Making Tax Digital – We can help

As of 1 April 2019, VAT-registered businesses in the UK will need to submit their VAT returns using functional compatible software, as part of HMRC’s Making Tax Digital (MTD) plans.

With the deadline approaching, we can help.

 We’ve created a Making Tax Digital app based on K3|imagine called K3|digital VAT (UK), which allows you to submit your VAT return digitally and verify and store your submission history.

Whilst there are other filing systems available, K3’s MTD app – K3|digital VAT (UK) has been developed to support legacy products including Dynamics and has many more advantages

Advantages of K3’s Making Tax Digital App

K3’s MTD app Other Filing Systems
  • All your details in one place, including filing history and payments made
  • Quick and easy login and validation
  • Pulls the data directly from your ERP system and allows you to cross check, saving up to 1-2 days per month
  • Sends and confirms your response to HMRC.
  • Saves the submission history and ties it back to the original transactions
  • K3 can roll out HMRC changes to all customers quickly.
  • K3|imagine is a scalable solution which can grow as needs change
  • You have to remember when you have to submit
  • You have to extract all the data manually which is time-consuming.
  • You have to work out the 9 box numbers yourself
  • You have to punch them into the submission frame
  • You need to get a response number or email and note it down and hope you don’t lose it.
  • There is no tie-back to the original transactions
  • The activity is limited to the scope of MTD as it is now may be out of date in a year

K3 | digital VAT (UK) – What it does

  • Connects your ERP to a cloud-based app.
  • The Cloud-based app:
    • Authenticates with HMRC to confirm your identity
    • Tells you the status of your VAT submissions and when the next is due
    • Receives transactions from your ERP
    • Summarises and displays your 9-box report
    • Sends the 9-box report to HMRC via HMRC API Call
    • Logs the HMRC submission response against transactions
    • Provides response back to transactions in ERP via API call from your ERP

K3 have demonstrated the App to HMRC and they have confirmed that they recognise the app for Making Tax Digital.

What’s the cost?

The K3’s Making Tax Digital App is available at £504 per year, paid up front for a 12 month subscription, (£42 per month). This is based on each individual VAT number, irrespective of filing frequency, or ERP system.

What other charges are there?

K3 will undertake an assessment of your system to ensure that it has not previously been customised for Tax and confirm suitability of the application.

We will then install and test the K3|digital VAT (UK) app

As part of the deployment process we will provide some training and process understanding

Any further VAT consulting or configuration that is required will be provided on a T&M basis and is outside of our estimate provided to assess and install the K3|digital VAT (UK) app

Should you wish, we will then check your VAT configuration and provide you with the necessary training to get you up and running. This time will vary based on your needs and.  Alternatively, you can self-configure and test based on the user guides and resources we will provide if you feel this is the best option for you.

What systems will it work with?

K3|digital VAT (UK) has been developed to support products including

  • Microsoft Dynamics NAV (various versions)
  • Microsoft Dynamics AX2012
  • Microsoft Dynamics AX2009.
  • Sigma

We can also help customers on later versions of Microsoft Dynamics up and running as well, helping them to configure the standard Microsoft products for Making Tax Digital.