NetSuite Makes Support for UK’s Making Tax Digital Initiative Easy

Posted by Kamlesh Rajyaguru, Director, Global Tax for NetSuite
Making Tax Digital (MTD), the HMRC initiative that requires UK businesses to submit their tax returns and payments online while also keeping digital records of their taxes, becomes mandatory from 1st April 2019 with businesses required to submit from a list of HMRC compliant software (of which NetSuite is one) or an API-enabled spreadsheet.
For many, this will be a significant change from their processes today, as not only do they manually re-key their VAT returns into HMRC’s online portal but they also have transactions in multiple ERP systems, separate commerce platforms or even spreadsheets.