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AlphaVAT from Tax Systems

Tax Systems

AlphaVAT from Tax Systems

Tax Systems

Total control over the preparation, calculation and management of your VAT Return

As tax experts, we know that VAT is just one of the many challenges your business will face as a result of MTD. We’re building a fully interoperable platform which will evolve throughout the initiative and will deliver new tools to help you remain MTD compliant.
Back in October 2018, we launched AlphaBridge. This was the first installment of our MTD platform and delivered bridging software which enabled customers to digitally submit their VAT returns to HMRC via a Digital Link.. Now we bring you AlphaVAT. A powerful cloud-based compliance engine that will transform your VAT return process. It provides you with total control over the preparation, calculation and management of your VAT return. Here's a little detail on the key features:
  • A powerful calculation engine that enables VAT treatments to be applied to individual and/or groups of transactions at a time. The treatments support everything from the simplest to the most complex VAT calculations, inclusing Partial Exemption Special Method (PESM), AlphaVAT enables you to automate many aspects of your VAT return process, including group consolidation and various recovery calculations. With best practice workflows built into AlphaVAT, you will become less dependent on complex spreadsheets and manual processes, improving overall accuracy, reliability and efficiency.
  • An end-to-end digital audit trail that will keep you compliant. Customers can extract a comrephensive report which proves Digital Links are in place, along with a clear and concise record of every action taken to produce the VAT return. Drill-back functionality built into the product allows users to dive into the detail behind the numbers, all the way back to the individual transactions and calculations which resulted in the output.
  • Data management tools which can validate the accuracy and completeness of your source data. Data diagnostic checks, VAT rate analysis, out of period transactions and error handling toold will help make sure your data is compliant.
  • Detailed Reporting & Analytics capabilities like Trend Analysis and Summary Reports allow you to compare and contrast your latest return with prior periods, and identify exceptions or anomalies prior to submitting your return.
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