DataTracks Announces Recognition by HMRC as a Making Tax Digital Software Provider
LONDON, July 26, 2018 (Newswire.com) - DataTracks, a global leader in regulatory compliance software and services, today announced that they have been recognised by Her Majesty’s Revenue and Customs (HMRC) in the UK on their list of software providers supporting Making Tax Digital (MTD) for VAT. DataTracks’s regulatory compliance solutions are widely used around the world, for reporting in XBRL/iXBRL formats, which includes submissions to HMRC and Companies House. With the digital reporting for VAT filers taking effect soon, DataTracks has designed and developed a software to assist filers with the MTD mandate that is to set to kick off from April 2019.
Following the listing as a recognised software provider supporting MTD, DataTracks has evaluated the solution model in HMRC’s test environment to ensure that their solution meets the expectations of reports being digitally linked for MTD. Filers are invited to participate in the MTD pilot phase.
Backed by the expertise that comes with having generated 150,000+ regulatory reports to date, in multiple formats, including XML, XBRL and iXBRL, DataTracks is geared up to provide a fully automated solution needing no manual intervention, within the shortest implementation time frame.
Senthil Kumar, Manager for Product Design, DataTracks
“Backed by the expertise that comes with having generated 150,000+ regulatory reports to date, in multiple formats, including XML, XBRL and iXBRL, DataTracks is geared up to provide a fully automated solution needing no manual intervention, within the shortest implementation time frame,” said Senthil Kumar, Manager for Product Design, DataTracks. “With an expansive customer base in the UK for regulations such as CRD IV, Solvency II, AIFMD, CT 600, CbCR and FATCA, we wanted to offer our customers a reliable and quick solution for MTD as well, much before the actual mandate (Apr 2019).”
About DataTracks:
DataTracks is a global leader in disclosure management and regulatory compliance software and services. Seven of the top 10 accounting firms and over 12,000 enterprises across global markets trust DataTracks with their information, counting on their deep expertise to help them inform, decide and comply. Using DataTracks, enterprises across geographies file reports compliant with the standards of regulators like the SEC - US, HMRC - UK, Revenue - Ireland, various EU regulatory authorities, ACRA - Singapore, MCA - India, and CIPC - South Africa. To know why financial accounting firms and enterprises world-over trust DataTracks, please visit www.datatracks.co.uk, www.datatracks.com, and www.datatracks.eu.
For business enquiries contact: +44-20-3608 8035, enquiry@datatracks.co.uk
Media contact: Karthik Sathuragiri, President, DataTracks, +91 99860 34993, karthik@datatracks.com
Website: www.datatracks.co.uk
Source: DataTracks