From April 2019 businesses above the VAT threshold will be mandated to keep their records digitally and provide quarterly updates to HMRC for their VAT. HMRC’s draft guidance introduces new VAT record keeping rules and the requirement that all applicable VAT return data is digitally linked so that transactions can be traced from source data (i.e. purchase/sales ledger) to VAT return completion and upload.

Businesses should be preparing their systems for full MTD compliance now.

Our software partner, Professional Advantage is developing an HMRC compliant solution called MTD for Infor SunSystems for expected release in October 2018, after a successful campaign to explore if there was sufficient firm commitment from within the Infor SunSystems user community for an automated link to HMRC to address the need to digitally file VAT Returns.

About the module

MTD for Infor SunSystems will automate the link between SunSystems and HMRC and enable SunSystems to export data to the module avoiding the need to re-key data and the risk of errors. It will also maintain the link between the data provided to HMRC and the source transactions. The key benefit of the module over Excel spreadsheets is that it’s fully auditable and eliminates costly errors.

  • Transfer of Infor SunSystems data into the MTD VAT format
  • The electronic return is passed into the secure HMRC API automatically
  • Provides an audit trail of previous VAT returns and associated transactions
  • Caters for multiple business units or groups of companies
  • Caters for multiple Infor SunSystems databases
  • Posts journals back to the Infor SunSystems VAT credit account
  • Can be used to submit monthly, quarterly or yearly Tax Return statements, depending on requirements
  • Allows for the storage of non VAT related information required to be reported on the Electronic Tax Return
  • Has the ability to store data that is keyed in from other systems and used for the production of the Return e.g. you can track your liability in another system and then enter the summary information into the module
  • A single process will extract and complete all the data directly into the module
  • The module archive feature means that for each reporting period it will provide a listing of all transactions from a particular submission. This is a full historical audit trail from SunSystems to HMRC
  • The process is automatic, reducing the preparation, report running and record keeping time by 3 to 6 hours per reporting cycle
  • It’s an automated business process, saving time, reducing clerical error, eliminating a manual task while saving costs

Next Steps

Speak to your Castle Account Manager or email info@castle-cs.com to become part of this exciting launch of a new Infor SunSystems module. Once the order has been placed, you will be billed for the initial software purchase only. Maintenance will be billed post release of the module.