United Kingdom: New Penalty System to be Introduced in 2023
9th August: As of January 2023, new penalties will apply in cases of late submission of VAT returns or late payments of VAT liabilities.
Our cloud-based VAT technology ensures global tax compliance everywhere you do business.Learn More
Lisa Dowling our Senior Global Director – Head of Indirect Tax, Advisory and Compliance discusses ‘Continuous Transaction Controls (CTCs)’, their meaning, country-specific approaches and what’s next for businesses.
Taxback International’s innovative solutions harmonise tax technology with experienced tax professionals to provide VAT Compliance, VAT Consultancy, and VAT Reclaim services to global businesses.
Everywhere you do business, we’re there for you.
Our technology platform – Comply – helps businesses manage complex, country-specific tax rules and regulations by simplifying and automating the preparation of VAT returns.
Businesses are under pressure to stay ahead of tax office requirements. Comply is a cloud-based VAT compliance technology, adjustable to shifting tax requirements, and configurable to a client’s individual complexity.
VAT Connect streamlines the VAT reclaim process to maximise recovery value on both Domestic and Foreign VAT Reclaim. As a fully indemnified technology, VAT Connect ensures zero risk to businesses.
We consult and provide support on indirect tax concerns such as risk assessment, local tax audit support, registration, deregistration, GL reconsolidation, process documentation, data analysis, entity-specific checks, VAT matrix preparation, and data clean up.
Our VAT experts provide tailored support to help businesses successfully navigate the digital tax landscape.
Guaranteed accuracy validated checks and on-time submissions
Audit trail of all individual returns with aggregation of global returns
Intelligent forecasting and accurate payment predictions
On-time payments to the tax office in local currencies, in real-time
Any deviations/outliers are tracking with escalation flows to support
Integrate and reconciliation with Expense Management System and Enterprise Resource Planning software
For over twenty-five years, we have provided indirect tax consultancy and technology to award-winning businesses. See what some of our clients have to say about working with us.
We now have a consistent way of reclaiming VAT and also it has driven a lot of simplicity into our organisation because we know exactly what we should do and not do.
We can invest our resources in other activities and we also noted that there’s much more accuracy in the VAT reclaim, we are sure we are VAT compliant as well.
We were able to reclaim our VAT 10X compared to previous years
Without Taxback International and their technology, we wouldn’t be where we are now. We have a bright future ahead of us, and their technology will get us there.
We have found Taxback International a thoroughly professional and competent organisation. In particular, we have valued their flexibility in dealing with specific requirements in our industry, and our intercompany and partner transactions.