Introducing AlphaVAT

AlphaVAT is a solution that digitally creates a VAT Return calculation from source data, and transmits this return to the HMRC submission system. Using the application interface designed by Tax Systems, data is taken from the accounting system and is used to prepare the VAT Return ready for submission.

The robust, end-to-end calculation process begins with a configuration options stage which allows the calculations required for the period to be tailored, ensuring a simple and understandable starting point whilst allowing the complexity of the VAT rules to be incorporated when needed.

The file upload system follows which allows for any number of source files to be imported into the calculation, with validation and error checking applied automatically and warnings raised to users where relevant. Uploaded data is then simply mapped, and filtered if required, into the calculations that AlphaVAT will perform in order to arrive at the VAT Return.

Upon running the calculation, AlphaVAT will present a preview of the VAT Return which is supported by detailed report statements that explain every aspect of the calculation that was performed, from source data through to the final numbers for the return. Manual adjustments may be applied to any box when necessary.

Submission is then made to HMRC using the APIs supplied by the tax authority, in order to satisfy the digital submission requirement.

NOTE:  If you have recently upgraded from AlphaBridge to AlphaVAT you can easily switch between the two VAT Calculation methods by selecting AlphaVAT, when your entity's next VAT Return obligation is due for preparation. If you had already started to prepare an entity's VAT Return using AlphaBridge and you want to switch to AlphaVAT to calculate and complete the VAT return, you can do this by selecting your entity.  This will take you to the VAT Returns tab, where you will see a summary of the VAT Calculation you had started to prepare using AlphaBridge.  You can then select the Change method option and choose AlphaVAT.  

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