LONDON, Oct. 15, 2018
/PRNewswire/ -- Ryan, a leading global tax services and
software provider, recently released Ryan MTD Bridge, an
Excel-based software application for corporations seeking an
immediate solution to meet the U.K.'s new Making Tax Digital for
Business (MTDfB) requirements. MTDfB is a U.K. government
initiative that sets out a vision for the "end of the tax return"
and a "transformed tax system" by 2020. As a first step toward this
transformation, Her Majesty's Revenue and Customs (HMRC) is
requiring businesses to use the MTDfB system to meet their value
added tax (VAT) obligations in 2019. Beginning 1st of
April, companies whose taxable turnover exceeds the VAT
registration threshold must begin keeping records digitally and
submit VAT returns via HMRC's application programming interface
(API). The portal most commonly used today will no longer be
available.
Ryan MTD Bridge is designed to quickly and affordably address
this pending VAT compliance requirement while providing an extended
timeframe for oganisations to strategically address the evolving
regulations and remain compliant. Recognising the majority of U.K.
VAT return preparation takes place in Excel, Ryan MTD Bridge was
developed in Excel to be easily incorporated into existing
processes and is recognised by HMRC.
"Ryan MTD Bridge is designed to fit seamlessly into our clients'
processes and implementation and meet the basic functionality that
is required," said Grant Smith, Ryan
principal and Tax Technology practice leader. "We created this
product to be a bridge to a permanent solution, with a minimal
investment, and be supported by Ryan's industry-recognised
commitment to client service excellence."
About Ryan
Ryan, an award-winning global
tax services and software provider, is the largest Firm in the
world dedicated exclusively to business taxes. The Firm provides an
integrated suite of international tax services on a
multi-jurisdictional basis, including tax recovery, consulting,
advocacy, compliance, and technology services. Ryan is a six-time
recipient of the International Service Excellence Award from the
Customer Service Institute of America (CSIA) for its commitment to
world-class client service. Empowered by the dynamic myRyan
work environment, which is widely recognised as the most innovative
in the tax services industry, Ryan's multi-disciplinary team of
more than 2,200 professionals and associates serves over 14,000
clients in more than 50 countries, including many of the world's
most prominent Global 5000 companies. More information about Ryan
can be found at ryan.com/europe. "Ryan" and "Firm" refer to the
global organisational network and may refer to one or more of the
member firms of Ryan International, each of which is a separate
legal entity.
MEDIA CONTACT
Patty Sullivan
Director, Communications
Ryan
1.469.399.4721
patty.sullivan@ryan.com
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